November 29, 2019 - Assignment

Linde/Aga sells clean energy and marine bunkering business to Gasum

The Linde group (to which Aga belongs) has agreed to divest its clean energy business in Sweden and Norway as well as its German marine bunkering business to the Finnish state-owned energy company Gasum.

The clean energy business has been conducted under the AGA brand and comprise a comprehensive range of industrial and specialty gas products and services, including liquefied natural gas and biogas trading. 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. Together, the clean energy business and the marine bunkering business generate an annual turnover of more than EUR 100 million. Closing of the transaction is subject to the customary regulatory clearances and is expected to take place in 2020.

Mannheimer Swartling acted as local counsel in relation to Swedish law aspects of the transaction. Gleiss Lutz was lead counsel on the transaction.