Russian chemical firm Kuibyshevazot acquired several of Linde’s industrial gas plants on August 10. The transfer of shares in Praxair Rus LLC occurred as part of a court-ordered debt collection process.
The seizure stems from a contract dispute regarding the construction of a gas processing complex in Ust-Luga. Linde suspended work on the project in 2022, citing European Union sanctions after receiving an advance payment.
RusChemAlliance, a joint venture involving Gazprom, pursued legal action to recover the funds. A Russian court subsequently ordered the seizure of Linde's shares in its Russian entities to cover the outstanding debts.