Gleiss Lutz has advised Linde as lead counsel on the carve-out and sale of business units in Sweden, Norway and Germany.
The key component of the transaction is the clean energy business of the Linde Group in Sweden and Norway. Between signing and closing, the clean energy business will be separated from the Linde Group’s other Scandinavian business activities by way of a carve-out. Gasum will also acquire the shares in Linde’s German subsidiary Nauticor, which operates the marine bunkering business. Together, the sold business units generate an annual turnover of more than EUR 100 million. Closing of the transaction is still subject to the customary regulatory clearances and is expected to take place in 2020.
Linde plc is a leading global industrial gas and engineering company. The company, which has around 80,000 employees worldwide, generated turnover of EUR 24 billion in 2018.
Gasum is a Finnish state-owned energy company. All in all, its turnover amounted to around EUR 1.1 billion in 2018.
At Linde, the transaction was handled by in-house counsel Sandra Albrecht (M&A) and Georg Terhorst (antitrust).
Gleiss Lutz frequently advises Linde on M&A transactions. Linde was advised on this transaction by the following Gleiss Lutz team: Dr. Ralf Morshäuser (partner, Munich), Dr. Patrick Mossler (partner, Hamburg, both lead), Dr. Tobias Falkner (counsel), Dr. Moritz Riesener, Melina Grauschopf (all corporate/M&A), Dr. Petra Linsmeier (partner), Tobias Klemm (both antitrust), Dr. Matthias Werner (counsel, IP/IT, all Munich), Dr. Johann Wagner (partner), Dr. Hendrik Marchal (counsel, both tax, Hamburg), Dr. Daniel Heck (corporate/M&A, Hamburg).
As lead counsel, Gleiss Lutz was working with the following Scandinavian law firms: Mannheimer Swartling (Sweden), Wikborg Rein (Norway) and Hannes Snellman (Finland).
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