Technology company The Linde Group, and worldwide industry and medical gases company Air Liquide, signed agreements for the realignment of their joint ventures in Asia.
Following approval by the competent authorities, Linde will acquire the shares of Air Liquide in gas companies Malaysian Oxygen (Malaysia) and Hong Kong Oxygen & Acetylene (Hong Kong). In return, Linde will sell its shares in Singapore Oxygen (Singapore), Eastern Industrial Gases (Thailand), Vietnam Industrial Gases (Vietnam) and Brunei Oxygen (Brunei) to Air Liquide. Upon closing of these transactions, Linde will receive a net purchase price of EUR 275 million.
The realignment of the joint ventures follows from one of the conditions imposed by the European Commission for granting clearance of Linde's acquisition of The BOC Group plc.
WilmerHale regularly advises Linde on matters regarding competition law and merger control. In previous months, WilmerHale has advised and represented Linde on its acquisition of UK-based The BOC Group plc and US company Spectra Gases Inc., as well as the disposal of BOC Gazy Sp. z o.o. and KION GmbH.
In the realignment of its joint ventures with Air Liquide in Asia, Linde was advised on merger control issues by Berlin partner Ulrich Quack as well as by the associates Dr. Alexander Jüngling, Christian Wörz and Dr. Oliver Fleischmann from the Berlin office.