The Linde Group has sold BOC’s Polish gases activities (BOC Gazy Sp zoo) to Air Products and Chemicals, Inc. at a price of €370m.
BOC Gazy achieved sales of around €126m and earnings before tax, interest, depreciation and amortisation (EBITDA) of around €38m in the 2006 financial year.
This divestiture was one of the antitrust conditions imposed by the European Commission arising from the acquisition of The BOC Group plc by Linde which became effective 5 September 2006.
Linde and Air Products expect the transaction to be completed in due course, subject to clearance from the competition authorities and the fulfilment of the usual closing conditions.
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