Linde completes divestiture of selected Korean assets to IMM

Linde plc has announced that it has completed the sale of selected assets of Linde Korea to IMM Private Equity Inc., in accordance with the recent merger between Linde AG and Praxair, Inc. and the Korea Fair Trade Commission.

The assets include bulk and on-site business in Giheung, Pohang and Seosansites as well as oxygen and nitrogen on-site generators in South Korea. The business generated annual sales of approximately US$220 million and an EBITDA of just over US$83 million in 2017.

The purchase price of US$1.2 billion will be subject to customary adjustments at closing.