Germany’s Linde is in talks with China’s acquisitive transportation and leisure giant HNA Group over its temperature-controlled logistics unit Gist, two people close to the matter said.
Linde said last month that it considered Gist a non-core asset and would sell it if anyone offered a good price for it.
HNA’s logistics arm includes a cold chain system logistics unit, which it could beef up with Gist, the people said, adding that no deal is certain yet and that one other Asian group remains interested in Gist.
Gist delivers cooled food and beverages mainly in the United Kingdom and counts British retailer Marks and Spencer as a key customer. It may reap a price of about 400 million pounds ($495 million), one of the sources said.
Linde declined to comment while HNA was not immediately available for comment.
HNA has snapped up several assets over the last couple of months including Swiss airline catering firm Gategroup as well as a stake in hotel group Hilton.
Linde’s planned divestment is unrelated to its failed plan to merge with peer Praxair, which was scrapped last month over issues such as headquarters and key personnel, the people said.
By Arno Schuetze
France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).
The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.
At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?