Kolkata, Apr 16 (PTI) Linde AG today said its proposed merger with US-based Praxair Inc was awaiting regulatory clearances in several countries apart from India.
“We have applied with the CCI 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 India official said here.
According to reports, Linde AG and Praxair Inc were planning to divest assets, with around USD 750-800 million in combined earnings before interest, tax, depreciation and amortization.
Linde India Chairman Sanjiv Lamba 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 CCI and some other regulatory authorities,” he said.
Meanwhile, Linde will focus on sectors like automobile and ancillary segments, steel and fabrication for growth.
Cryogenic solutions is another growth area, Lamba said.
This is published unedited from the PTI feed.