Praxair, Linde Application for Sale of Gas Plant Approved by FTC

The Federal Trade Commission Feb. 11 approved an application from German chemicals maker Linde AG to divest a Texas hydrogen and carbon monoxide plant to Celanese Ltd.

The divestiture is part of a settlement Linde reached with the FTC in October to move forward with its $80 billion acquisition of U.S. rival Praxair Inc. The deal, which is now closed, created the world’s largest supplier of industrial gases.

The companies agreed to sell assets in nine U.S. industrial gas markets to resolve competition concerns over the deal. The approval of Linde’s application to sell its Clear Lake, Texas, plant to ...