Linde and Air Liquide complete Asia JV acquisitions

27 April 2007 17:34  [Source: ICIS news]

LONDON (ICIS news)--Industrial gas groups Air Liquide and Linde have completed the agreements to acquire each other’s shares in six joint ventures in southeast Asia, the two companies said in statements on Friday.

 

Air Liquide now owns 100% of shares in Soxal (Singapore), Eastern Industrial Gases (Thailand), Vietnam Industrial Gases and 50% of Brunox (Brunei).

 

At the same time Linde has acquired the whole of the Malaysia Oxygen and Hong Kong Oxygen joint ventures.

 

Linde received a net purchase on the six deals of €275m ($375m).

 

The realignment of these shareholdings was one of the conditions imposed by the European Commission when it authorised Linde’s acquisition of UK rival BOC in September 2006.

 

($1 = €0.74)

By: Mark Watts
+44 20 8652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly