Linde plc today said it had completed the sale of selected assets of Linde Korea to IMM Private Equity, in accordance with the recent merger between Linde AG and Praxair, Inc. and the Korea Fair Trade Commission.
The assets divested include bulk and on-site business in Giheung, Pohang and Seosansites as well as oxygen and nitrogen on-site generators.
The business generated annual sales of approximately $220m and an EBITDA of just over $83m in 2017.
The purchase price of $1.2bn will be subject to customary adjustments at closing.
Compressed industrial gases, fuel gases and refrigerants rely on cylinders for their distribution. As the world goes green, the trends in cylinder technology are also heading in that direction. Cylinder manufacturers, industrial gas operators and end-users are all equally impacted by these dynamics.
MATHESON, a wholly owned subsidiary of TNSC Group, has completed its acquisition of Linde’s divested HyCO business in the US.
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