Linde sells part of its US bulk business to Airgas
The Linde Group has signed a definitive agreement to sell part of its bulk business in the United States to the industrial gases company Airgas Inc. at a price of 495 million US dollars. The eight air separation plants to be divested had sales of 154 million US dollars and EBITDA of around 55 million US dollars in the financial year 2005. In the first nine months of the financial year 2006 sales increased approximately 10 percent to 126 million US dollars.
This divestiture will comply with one of the conditions imposed by the US antitrust authority, the Federal Trade Commission (FTC,) when it gave its approval for the acquisition of The BOC Group plc by Linde, a transaction which was completed on 5 September 2006.
The companies expect to close the bulk business acquisition subject to regulatory review and customary closing conditions.
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