Air Liquide is moving into a new phase in South-East Asia having acquired shares in four joint-venture companies as part of the deal announced Tuesday giving Linde Group complete control of jointly owned Malaysia Oxygen.
The deal gives the Paris based group 50 percent of Soxal (subsidiary in Singapore), of which it already owns 50 percent – 50 percent of EIG (subsidiary in Thailand) of which it already owns 50 percent, – 50 percent of VIG (subsidiary in Vietnam) of which it already owns 50 percent, – 25 percent of Brunox (subsidiary in the Sultanate of Brunei) of which it already owns 25 percent.
A local partner, QAF Investment, holds the rest of the capital. The combined total revenue of these four companies is approximately 230 million euros.
In addition to Malaysia Oxygen Air Liquide will also sell its 50 percent holding in Hong Kong Oxygen, based in Hong Kong and with a Chinese partner in the Canton region. On this basis, Linde will receive the sum of around 275 million euros. However, all of these transactions are subject to the approval of the anti-trust authorities.
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