The European Commission said on October 22 that the EC has approved, under the EU Merger Regulation, the acquisition of joint control of industrial gas assets and businesses in North and South America, as well as global helium sourcing contracts and related asset, by CVC Capital Partners of Luxembourg and Messer Group of Germany.
According to the Commission, the Divestment Business is being divested in the context of the merger between Praxair and Linde.
Messer is a supplier of industrial gases, which is mainly active in Europe and Asia. CVC is a private equity and investment advisory firm.
The Commission said the EC examined the effect of the transaction on the markets for the supply of helium and concluded that the proposed acquisition would raise no competition concerns because of its limited impact on the markets concerned.
As regards the merger between Praxair and Linde, the Commission’s August 2018 decision requires the companies to sell the global helium sourcing contracts and related assets included in the Divestment Business to suitable purchasers.
According to the Commission, the decision adopted on October 22 does not prejudge the outcome of that separate assessment.