Air Water India(AW India) and Air Water(AWI) recently have entered into Business Transfer Agreement for AW India to acquire related business of manufacture, sale and distribution of oxygen, nitrogen and argon operated in East India (East Region Divestment Business) of Praxair India.

Based on the Agreement, AWI will make an investment in AW India to provide it with funds necessary for acquiring the East Region Divestment Business.

Acquisition price is 15.25 billion Indian Rupees (approximately 23.8 billion yen).

Praxair and Linde AG entered into a Business Combination Agreement on June 1, 2017 to merge the two companies. Pursuant to a notice filed by Praxair and Linde AG with the Competition Commission of India (CCI), the parties were directed by the CCI to sell part of their Indian business to a third party on September 6, 2018.

AWI made inroads into the Indian market through the acquisition of Ellenbarrie Industrial Gases, a local industrial gas manufacturer, in 2013 and have established AW India in 2014.