Last month, Linde plc 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.
As of 1st May (2019), the divested business now operates under the name of AirFirst Co., Ltd. Air gases products and services previously provided by Linde Korea are now available from AirFirst.
The assets divested in accordance with the merger included bulk and on-site business in Giheung, Pohang and Seosan sites, 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 Federal Trade Commission (FTC) has extended a 29th January deadline for completion of the sales of certain Linde plc US-based assets until 1st March 2019 due to the US government shutdown.
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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