Linde India Limited has signed a Business Transfer Agreement with HPS Gases Ltd., Vadodara to acquire its entire packaged gases business along with certain distribution assets with effect from 1 November 2021 for an aggregate cash consideration of Rs. 27.5 crore.

The packaged gases business of HPS Gases Ltd. will help expand Linde’s presence in the Packaged Gas and Micro Bulk market in Western India.

As a part of this acquisition, the company will enter into other agreements with HPS Gases Ltd., viz. Asset Purchase Agreement, Non-Compete Agreement and Agreement for Product Supply and Purchase. In line with these agreements, Linde India will supply liquid products to HPS Gases Ltd. and purchase gases in packaged and mini bulk from HPS Gases Ltd. under a long- term contract with them.

HPS Gases Ltd., is part of the privately held SKY Oxygen group and is one of the oldest and reputed Industrial gas players in Western India since 1988.