Air Water, through its subsidiary in India, recently entered into a Business Transfer Agreement to acquire the business of manufacture, sale and distribution of oxygen, nitrogen and argon operated in South India of Linde India.

On August 14, 2019, Air Water announced in the ‘Notice of Conclusion of Term Sheet on the Acquisition of South Region Divestment Business from Linde India Limited’, that it will acquire the South Region Divestment Business through its subsidiary in India.

After the execution of the binding term sheet, approvals from the shareholders of Linde India and Competition Commission of India were received and subsequently, Air Water entered into a Business Transfer Agreement with Linde India on November.

The South Region Divestment Business will be acquired by Air Water India and Air Water will make an investment in AW India to provide it with part of the funds required for the Acquisition.