The European Commission has approved under the EU Merger Regulation the proposed mega merger of equals between Praxair and Linde.
The approval is conditional on the divestiture of an extensive remedy package, notably comprised of Praxair’s entire gas business in the European Economic Area (EEA) and the transfer of Praxair’s stake in the SIAD Group, its Italian joint venture (JV) in Central and Eastern Europe as well as Italy, to Praxair’s current JV partner Flow-Fin SpA.
Flow-Fin will become the sole owner of SIAD. Flow-Fin is a financial company controlled by Sefin SpA and owned by the Sestini family, gasworld understands, that does not hold any other controlling shareholding outside of those held in Rivoira and SIAD.
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