CCI approves Linde-Parxair deal

VADODARA (BARODA) | MUMBAI | RAJKOT – Competition Commission of India (CCI) has approved the merger between Linde AG and Parxair, Inc, Linde India Ltd today said in a regulatory filing submitted to the

Linde AG and Praxair, Inc. had jointly made an application to the CCI on 11 January 2018 pursuant to the provisions of Section 6(2) of the Competition Act, 2002.

After completion of its assessment, the CCI has issued a clearance letter dated 7 September 2018 to Linde AG and Praxair, Inc., the statement read.

It is hereby informed that the Commission, in its meeting held on 06.09.2018, considered and approved the proposed combination under sub-section (7) of Section 31 of the Act, subject to the Parties carrying out the modification proposed by the Commission vide its letter dated 16.08.2018, as accepted unconditionally, by your submission dated 22.08.2018, the attached letter with the state from CCI read.

As per the notice submitted to the fair trade regulator CCI in India in January 2018, Germany headquartered Linde group active in industrial gases, medical gases, specialty gases, helium and allied engineering services and US headquartered Parxair, an industrial gases company, have combined under a transaction in a newly incorporated holding company, Linde Plc.

After the completion of the proposed transaction, shareholders of both the merged companies will own Linde Plc., according to the communication.

Immediately after the communication from Linde India hit the Indian Bourses, investors & traders reacted positively to the announcement, company shares improved with an instant spike and continued trading on POSITIVE counters, ending in GREEN zone, on Monday, when business on the Indian Bourses ended for the day.


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