The European Commission has approved of Linde AG’s purchase of Air Products’ Continental-European homecare business. The deal, which has an enterprise value of €590m and was given unconditional approval yesterday 18th April, is expected to be closed by the end of this month.
The business being bought achieved annual sales of €210m in 2011 and the transaction comprises of Air Products’ homecare operations in Belgium, France, Germany, Portugal and Spain – totalling around 850 employees.
The agreements cover the sale of Air Products’ patient-based oxygen-therapy, sleep-therapy and infusion-therapy services in Continental Europe.
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