Latest News | Linde India to Acquire HPS Gases

Kolkata, Aug 3 (PTI) City-based industrial and medical oxygen major Linde India on Tuesday said it will acquire the packaged gases business of HPS Gases Ltd.

The company has signed a business transfer agreement with HPS Gases to takeover the entire packaged gases vertical along with certain distribution assets for an aggregate cash consideration of Rs 27.5 crore, it informed the bourses.

The acquisition that will come into effect from November 1 will help expand Linde's presence in the packaged gas and micro bulk market in western India, the company said.

Linde India will supply liquid products to Vadodara-based HPS Gases and purchase gases in packaged and mini bulk under a long-term contract.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)