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Linde Group Acquires Remainder of Elgas

The Linde Group has acquired the remaining 50 per cent of the shares in the Australian lpg company Elgas in Sydney, at an equity value of 126 million euros. Elgas, established in 1984, was a 50/50 joint venture between BOC Ltd, a member of the Linde Group, and AGL Energy (AGL).

Elgas is the biggest marketer of lpg in Australia and operates Australia’s largest lpg storage facility at Port Botany in Sydney. The company achieved sales of around 255 million euros in 2007.

“This transaction will enable us to strengthen our position as the leading supplier of gases in Australia,” said Professor Dr Wolfgang Reitzle, CEO of Linde AG. “We will profit from the synergies between the lpg business and our strong industrial gases business. We can leverage the Elgas infrastructure and management to expand and improve our combined lpg business across Australia and New Zealand.”

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