January 21, 2019 / 9:16 PM / a month ago

Linde Plc to launch $6 billion share buyback scheme

FRANKFURT (Reuters) - Linde Plc (LIN.N), the industrial gases giant created by the merger of U.S. group Praxair and German rival Linde AG, said it would buy back up to $6 billion of own shares, returning proceeds from assets it had to sell to win antitrust approval.

Under the repurchase program, Linde plans to acquire up to 15 percent of its outstanding shares between May 1, 2019, and Feb. 1, 2021.

Linde may start the program earlier if its existing $1 billion share repurchase program is concluded ahead of schedule.

The two companies had to sell more than 8 billion euros ($9.1 billion) in assets to win over global antitrust regulators to their merger.

Reporting by Ludwig Burger

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