For aggregate cash consideration of Rs 27.5 cr
Linde India has on 02 August 2021 signed a business transfer agreement with HPS Gases, Vadodara to acquire its entire packaged gases business along with certain distribution assets with effect from 1 November 2021 for an aggregate cash consideration of Rs.27.5 crore.As a part of this acquisition, the Company will enter into other agreements with HPS Gases, viz. Asset Purchase Agreement, Non-Compete Agreement and Agreement for Product Supply and Purchase.
In line with these agreements, Linde India will supply liquid products to HPS Gases and purchase gases in packaged and mini bulk from HPS Gases under a long term contract with them.
HPS Gases (part of the privately held SKY Oxygen group) is one of the oldest and reputed Industrial Gas players in Western India since1988.
The aforesaid acquisition of the packaged gases business of HPS Gases will help expand Linde's presence in Packaged Gas and Micro Bulk market in Western India.
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