Linde, Praxair get EU approval for $82 billion deal
The European Commission (EC) said the companies' pledge to sell assets to reinforce a Japanese rival in Europe and other concessions addressed its concerns that the deal may lead to price hikes and hurt competition, confirming a Reuters story on July 12.
The EU watchdog said Praxair will sell its entire gas business in the 28-country bloc, Iceland, Liechtenstein and Norway. It will also transfer its stake in an Italian joint venture in central and eastern Europe to partner Flow Fin.
The companies will also sell additional helium sourcing contracts to one or more buyers.
Praxair has already done a deal to sell its industrial gases businesses in Belgium, Denmark, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden and Britain to Taiyo Nippon Sanso Corp for 5 billion euros. ■