Hengeler Mueller advises Linde on sale of selected Korean assets to IMM Private Equity

08. May 2019

Linde plc has completed the sale of selected assets of Linde Korea to IMM Private Equity Inc. in connection with the recent merger between Linde AG and Praxair, Inc. and requirements of the Korea Fair Trade Commission.

The assets divested include bulk and on-site business in Giheung, Pohang and Seosansites as well as oxygen and nitrogen on-site generators. The business generated annual sales of approximately USD 220 million and an EBITDA of just over USD 83 million in 2017. The purchase price is USD 1.2 billion.

Hengeler Mueller advised Linde on the transaction. The team was led by partner Matthias Hentzen (Düsseldorf) and included partners Emmanuel Strehle (Munich) and Thomas Lang (Frankfurt) as well as associate Alexander Bekier (Berlin) (all Corporate/M&A).

Hengeler Mueller worked on this transaction together with the Korean firm Shin & Kim (Joon Hyug Chung (lead), Stephanie Kim, Su He Hong, Clara Miri Kang). Inhouse, Linde was represented by Harald Voigts (lead, Munich) and Serena Park (Seoul).