The $70bn merger of Praxair and Linde has moved another step closer after receiving conditional approval in Brazil, one of the regional markets where the deal was thought to be under particular scrutiny.
According to an announcement made in Portuguese by the Brazilian antitrust authority CADE, the merger was given approval subject to the signature of a Merger Control Agreement (MCA).
The full terms of the MCA have not been disclosed and though no English (language) version of the announcement is available yet, gasworld understands from its Latin American Correspondent that the MCA establishes several structural ‘remedies’ due to the existing high concentration of the Brazilian industrial gases market and that both Praxair (White Martins) and Linde are already significant players in the market.
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