The Linde Group and Air Liquide have concluded the realignment of their joint ventures in Asia.
Linde purchased Air Liquide's interests in the gas companies Malaysian Oxygen (Malaysia) and Hong Kong Oxygen & Acetylene (Hong Kong). In return, Linde sold its interests in Singapore Oxygen (Singapore), Eastern Industrial Gases (Thailand), Vietnam Industrial Gases (Vietnam) and Brunei Oxygen (Brunei) to Air Liquide. By these transactions Linde received a net purchase price of â‚¬275m ($375m).
Following the receipt of unconditional approval from the European Commission, these transactions were completed today. A realignment of the shareholdings in certain joint ventures in the Asia/Pacific region was one of the conditions imposed by the European Commission when it authorised the acquisition of The BOC Group plc by Linde which became effective on 5 September 2006.