Japanese industrial gas company Air Water Inc. (AWI) has completed its acquisition of Linde India Limited’s South Region Divestment Business through its subsidiary Air Water India Private Limited (AW India).
The business transfer agreement sees AW India acquire the related business of manufacture, sale and distribution of oxygen, nitrogen and argon operated in South India (South Region Divestment Business).
Linde AG and Praxair, Inc. entered into a business combination agreement on 1st June 2017. The Indian Government’s competition authority, the Competition Commission of India (CCI), directed the companies to sell part of their Indian business to a third party.
“After deliberations on the acquisition, our Board decided on 26th June (2019) to submit a binding offer to acquire the South Region Divestment Business,” AWI explained in a statement.
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