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BSE SENSEX
83,155.26
+207.03
+0.25 %
Corporate Announcement
Security Code
523457
Company
Linde India Limited
Exchange Received Time
14/08/2019 12:13:20
Exchange Disseminated Time
14/08/2019 12:13:26
Time Taken
00:00:06
Divestment Of 'South Region Divestment Business' As Per The
Order Of The Competition Commission Of India |
8/14/2019 12:13:21 PM
We wish to inform you that in compliance with the order of the CCI, at a meeting of the Board of Directors of the Company held on 12/08/2019,the Board has subject to the approval of Shareholders and the CCI and subject to such other approvals as may be necessary, approved the sale/divestment of the 'Company's South Region Divestment Business' as more fully described in Schedule II of the Order dated 6/9/2018 issued by the CCI, along with surplus land in Chennai and Hyderabad PGP sites and a decommissioned Air Separation Unit at Hyderabad site, all on a 'slump-sale' and 'as is where is basis' to Air Water India Pvt. Ltd., a company incorporated under the Companies Act, 2013 for an aggregate sale consideration of Rs.13,800 million (Rupees Thirteen Thousand Eight Hundred million) only. The Company has entered into a binding term sheet on 13/08/2019 with Air Water India Private Limited and with Air Water Inc.,a company incorporated under the laws of Japan (as a guarantor) in this regard.
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