German gas and engineering company Linde AG (LDE.L,LNAGF.PK) said that the company and Praxair, Inc. (PX) are in advanced negotiations with a consortium comprising Messer Group GmbH and funds advised by CVC regarding the sale of the majority of Linde’s gases business in North America as well as certain Linde and Praxair assets in South America.
Linde noted that any execution of the agreement would still be subject to the approval of the competent boards of the contracting parties.
Linde and Praxair consider the divestiture of such business to be necessary in order to allow merger clearance of their proposed business combination by the relevant competition agencies.
In the event of an execution of the agreement, the sale would still be subject to the completion of the proposed business combination of Linde and Praxair as well as regulatory approvals.
by RTTNews Staff Writer
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