Deals
Linde to Sell $3.3 Billion of Assets to Win Merger Backing
- Gases company had said it was in advanced talks for sale
- Linde says more sales may be needed to get merger approval
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Linde AG announced the sale of North American businesses for $3.3 billion to win approval for its merger with U.S. rival Praxair Inc., bringing disposals to more than $9 billion with a hint of more to come.
The assets being offloaded had sales last year of about $1.7 billion and include most of Linde’s U.S. bulk business and its operations in Brazil, Canada and Colombia. The deal is contingent on Linde and Danbury, Connecticut-based Praxair completing their $47 billion tieup.