Linde AG has announced an offer to acquire all the shares in privately-held Ceylon Oxygen Limited in Sri Lanka, and the acceptance of the offer by the major shareholder, Europium Limited, in respect of 95.4% of the shares in Ceylon Oxygen.
What does all this mean? The offer, which has become unconditional, will close on 12th November 2010.
After which, Linde intends to acquire the outstanding minority shares held by shareholders who have not accepted the offer under relevant Sri Lankan legislation to give it 100% ownership of Ceylon Oxygen.
Established in 1936, Ceylon Oxygen Limited is headquartered in Colombo, and is the leading medical and industrial gases player in Sri Lanka. It is the only company that owns and operates an air separation plant in the country.
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