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Linde-Praxair merger awaiting clearance in many countries

Press Trust of India  |  Kolkata 

today said its proposed merger with US-based Inc was awaiting regulatory clearances in several countries apart from

"We have applied with the and so far there is no communications from them in regard to need for any divestment of the combined asset for the regulatory nods," a senior Linde said here.

According to reports, and Inc were planning to divest assets, with around USD 750-800 million in combined earnings before interest, tax, depreciation and amortization.

Linde said after the AGM that out of the 24 countries whose regulatory authorities have been approached, only 10 have given clearances so far.

"We are awaiting clearances from the and some other regulatory authorities," he said.

Meanwhile, Linde will focus on sectors like automobile and ancillary segments, and fabrication for growth.

Cryogenic solutions is another growth area, Lamba said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 16 2018. 22:35 IST