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Linde plc has completed the sale of selected assets of
Linde Korea to IMM Private Equity Inc. in connection with the recent merger
between Linde AG and Praxair, Inc. and requirements of the Korea Fair Trade
Commission.
The assets divested include bulk and on-site business in
Giheung, Pohang and Seosansites as well as oxygen and nitrogen on-site
generators. The business generated annual sales of approximately USD 220
million and an EBITDA of just over USD 83 million in 2017. The purchase price
is USD 1.2 billion.
Hengeler Mueller advised Linde on the transaction. The
team was led by partner Matthias Hentzen (Düsseldorf) and included partners
Emmanuel Strehle (Munich) and Thomas Lang (Frankfurt) as well as associate
Alexander Bekier (Berlin) (all Corporate/M&A).
Hengeler Mueller worked on this transaction together with
the Korean firm Shin & Kim (Joon Hyug Chung (lead), Stephanie Kim, Su He
Hong, Clara Miri Kang). Inhouse, Linde was represented by Harald Voigts (lead,
Munich) and Serena Park (Seoul).