Linde said in a statement 15 October that Linde and Praxair both “aligned” on 1 October with Federal Trade Commission (FTC) staff regarding required asset sales as part of ongoing US antitrust review of the Linde-Praxair merger.
The remedy package has been submitted to the FTC commissioners for a vote, Linde said. It is not clear when commissioners will vote but merger conditions require that the FTC provide clearance by 24 October. The combination is also subject to the timely receipt of buyer approval by the European Commission.
Jefferies analyst Laurence Alexander said he remains optimistic that FTC approval can be reached before the deadline. “The timeline suggests approval could slip into next week, with the end of the day October 24 the key hurdle,” Alexander says. “Buyer approval is also required by the European Commission, which should be manageable as the transaction or transactions involve US assets.”
Linde has agreed to sell a significant part of its assets in the Americas to a consortium of Messer Group and CVC Capital Partners while Praxair has agreed to sell a majority of its businesses in Europe to Taiyo Nippon Sanso Corp. (TNSC; Tokyo, Japan) to secure antitrust approvals.
By Robert Westervelt
Source: Chemical Week
CF Industries Holdings, Inc. (NYSE: CF) today announced that it has closed its acquisition of Incitec Pivot Limited’s (“IPL”) ammonia production complex located in Waggaman, Louisiana. Under the terms of the agreement, CF Industries purchased the Waggaman ammonia plant and related assets for $1.675 billion, subject to adjustments.
The Virgin Atlantic flight was powered entirely by SAF, that was a drop-in replacement for conventional jet fuel, but made solely from sustainable feedstocks. This was enabled through the inclusion of a new bio-based aromatic jet fuel blending component.
Cepsa SA (Madrid) has agreed a deal with C2X, an independent firm owned by AP Moller Holding with AP Moller-Maersk as minority owner, to develop a 300,000 metric tons per year renewable methanol plant at Huelva, Spain.
