BOC Group offloads Linde Pakistan shares

KARACHI: Linde Pakistan Limited on Wednesday announced in a bourse filing that its majority shareholder BOC Group has decided to offload its entire shareholding ie 15.023 million shares in the company.

BOC Group Limited, holder of approximately 60 percent of the shares in Linde Pakistan Limited has entered into a binding share purchase agreement with Adira Capital Holdings, Hilton Pharma, Soorty Enterprises, Al-Karam Textile Mills, Siraj Dadabhoy, and Fawad Anwar for the sale of entire BOC Group shareholding in Linde Pakistan against a consideration of 2.47 euro per share, equivalent to approximately Rs290.30 per share.

The consummation of the transactions contemplated by the share purchase agreement is subject to satisfaction of regulatory approvals. It may be recalled that ICI Pakistan in February this year had announced to acquire 60 percent of voting shares of Linde Pakistan Limited. ICI planned to acquire 15.023 million shares through an agreement of Linde Pakistan owned by the BOC Group, UK and its four nominee shareholders.

Linde Pakistan Limited is a member of the Linde Group, world’s leading supplier of gas and engineering solutions. It manufactures and distributes industrial, medical and specialty gases, as well as welding products and provides a range of related services, including the installation of on-site plants, gas equipment, pipelines, and associated engineering services.