Linde India, engaged in manufacturing of industrial gases and undertaking engineering projects, announced that its joint venture company Bellary Oxygen Company has signed and executed the asset sale agreement with JSW Steel, in view of the expiry of the gas supply contract with JSW Steel on November 14, 2021 and has received the consideration amount of Rs 500 million for the transaction.

The joint venture company has since handed over the possession of the 855 tonnes per day Air Separation unit and other related assets to JSW Steel as of November 15, 2021 and has also signed the closing documents on November 15, 2021. As a consequence of the above, the Hold Separate Arrangement in respect of the Belloxy Divestment will come to an end.

Shares of the company gained Rs 57.75, or 2.35%, to settle  at  Rs 2,517.35.  The total volume of shares traded  was 7,623 at  the BSE (Thursday).