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Foundry Daily News

30. April 2007

Air Liquide South-East Asia: Purchase of Four Joint-Ventures Completed

In accordance with the announcement made on February 21 2007, and following the approval of the anti-trust authorities, Air Liquide has today completed the purchase from Linde of the four joint-venture companies that were already managed by the Group in South-East Asia.

Air Liquide now owns 100% of the activities of Soxal (subsidiary in Singapore), Eastern Industrial Gases (subsidiary in Thailand), Vietnam Industrial Gases (subsidiary in Vietnam) and 50% of Brunox (subsidiary in Brunei with a local partner).

At the same time, Air Liquide sold to Linde its share in Malaysia Oxygen (Malaysia) and in Hong Kong Oxygen (present in Hong Kong and in the Canton region).

On this basis, Linde received the sum of 275 million euros.

These acquisitions are a major step in the strategy of the Air Liquide Group to pursue its development in South-East Asia in a quicker and more integrated way, and to capitalize on growth in economies clustered around the industrial hub of Singapore.

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