BERLIN (Reuters) - German industrial gases company Linde (LING.DE) says more disposals are planned after the sale of Praxair’s (PX.N) European gases business to Japan’s Taiyo Nippon (4091.T) to enable its tie-up to be approved by the European Commission.
Taiyo Nippon will pay 5 billion euros ($5.85 billion) for the assets, which generated annual sales of approximately 1.3 billion euros in 2017.
Linde said that to get clearance for its merger with Praxair further divestments were likely to be required.
“Linde and Praxair are in discussions with the competent authorities and in negotiations with potential bidders with the objective of completing the business combination in the second half of 2018,” Linde said in a statement on Thursday.
Reporting by Victoria Bryan; Editing by Maria Sheahan