Cleary Gottlieb is advising DCC Germany Holding GmbH, part of the DCC Group, in its acquisition of TEGA - Technische Gase und Gasetechnik GmbH from Linde.
TEGA’s business focuses on the distribution of liquefied petroleum gas (LPG) and refrigerant gases.
DCC is a leading international sales, marketing, and support services group listed on the London Stock Exchange, and is a constituent of the FTSE 100. Headquartered in Dublin, DCC operates through four divisions: LPG, Retail & Oil, Healthcare, and Technology. During its last financial year ending on March 31, 2017, the group, with approximately 10,000 employees, generated revenues of more than £12 billion.
A competitive sales process preceded the acquisition. The parties agreed not to disclose the purchase price. Following approval by the responsible antitrust authorities, the transaction is expected to be completed by the end of March 2018.