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Linde India gets Rs1,380cr from Air Water India as per biz transfer agreement

Shares of Linde India rose over 2% on the BSE after the company has received the full purchase consideration of Rs1,380cr from Air Water India Pvt. Ltd. as per the terms of the aforesaid Business Transfer Agreement.

“This is to inform you that in compliance with the Competition Commission of India's (CCI) Order on September 6, 2018, the Company has yesterday, effective close of business hours, consummated and closed the Business Transfer Agreement for divestment of the 'South Region Divestment Business,' which was signed on November 22, 2019, with Air Water India Pvt. Ltd. (the purchaser) and Air Water Inc. (the guaranteeing party),” the company said in the filing.

Linde India Ltd is currently trading at Rs643, up by Rs16.5 or 2.63% from its previous closing of Rs626.50 on the BSE.

The scrip opened at Rs636 and has touched a high and low of Rs653.60 and Rs614 respectively.

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