Linde Completes Sale of Gist, a Non-Core Business

Rhea-AI Summary

Linde (NYSE:LIN) has successfully completed the sale of Gist Limited, its temperature-controlled logistics provider in the UK and Ireland, to Marks & Spencer Group plc as of September 30, 2022. This divestiture is part of Linde's strategy to streamline operations by shedding non-core assets. Linde, which reported $31 billion in sales for 2021, aims to enhance productivity through high-quality industrial gases and engineering solutions across various sectors, including healthcare, manufacturing, and energy.

Positive

• Completed sale of Gist Limited, enhancing focus on core operations.
• Strengthens balance sheet by divesting non-core assets.
• Potential for improved operational efficiency post-sale.

Negative

• Loss of a logistics asset that could affect supply chain dynamics.
• Possible short-term disruption during the transition period.

WORKING, UK / ACCESSWIRE / September 30, 2022 / Linde (NYSE:LIN)(FWB:LIN) today announced it has completed the sale of Gist Limited, Linde's temperature-controlled logistics provider primarily in the United Kingdom and Ireland, to Marks & Spencer Group plc, a leading British retailer. The sale of this non-core asset was completed on September 30, 2022.

About Linde

Linde is a leading global industrial gases and engineering company with 2021 sales of $31 billion (€26 billion). We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet.

The company serves a variety of end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.

For more information about the company and its products and services, please visit www.linde.com

Contacts:

Investor Relations
Juan Pelaez
Phone: +1 203 837 2213
Email: juan.pelaez@linde.com

Media Relations
Anna Davies
Phone: +44 1483 244705
Email: anna.davies@linde.com

SOURCE: Linde plc

View source version on accesswire.com:
https://www.accesswire.com/718296/Linde-Completes-Sale-of-Gist-a-Non-Core-Business

FAQ

What is the significance of Linde's sale of Gist Limited?

The sale allows Linde to focus more on its core operations by shedding a non-core asset.

When was the sale of Gist Limited completed?

The sale was completed on September 30, 2022.

Who acquired Gist Limited from Linde?

Marks & Spencer Group plc acquired Gist Limited.

How did Linde perform financially in 2021?

Linde recorded $31 billion in sales for the year 2021.

What are Linde's primary business sectors?

Linde operates in sectors such as healthcare, manufacturing, energy, and food and beverage.