Linde Pakistan changing hands

A consortium of 4 companies to jointly acquire one of Pakistan’s leading industrial gas solution companies

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A consortium of as many as 4 companies have shown interest in jointly acquiring 60% shares of Linde Pakistan Limited (LPL), it was informed in a notice sent to the PSX. The acquiring group consists of Al Karam Textiles Mills (Pvt) Limited, Soorty Enterprises (Pvt) Limited, Hilton Pharma (Pvt) Limited and Adira Capital Holding (Pvt) Limited (under process of incorporation). The process of acquisition will be initiated subject to requisite regulatory approvals.

Linde Pakistan is a wholly owned subsidiary of Linde AG incorporated in Germany.The company has been pioneering medical and industrial gas solutions and creating value for customers across industries for more than 65 years.

The stock for Linde Pakistan closed at Rs 361.50 with an increase of Rs 17.21 (4.76%) and the total volume of shares traded for the company amounted to 164300 yesterday.

It has been reported that Arif Habib Limited has been appointed as the manager and financial advisor on behalf of the acquiring group.

In a telephonic interview with Waqar Malik, the cofounding member of Adira Capital says the management and operations of the acquired company along with the decision of the new CEO shall be taken  if and when the acquisition is complete.