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China Hongyang Group, is an integrated enterprise with the research & development, production and marketing of Fuel Dispenser and related accessories as well as service station concerning equipments. It concentrates on the relative manufacture & services of filling station such as Hongyang tax control Fuel dispenser, IC Card fuel dispenser, manage system of network for stations, submerge pump and liquid level devise. China Hongyang Group, designed supplier of SinoPec and PetrolChina, our HONGYANG products have been sold to over 50 countries in South-east Asia, Mid-east, Africa, Europe and well received in their markets.
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short, just the sort of thing championed by
AT&T. Yet not long ago, AT&T was the dinosaur and Vodafone represented the future.
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Corporate mergers
The gasman cometh
Mar 9th 2006 | FRANKFURT
From The Economist print edition
Linde buys BOC, with a little help from its friends
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COULD Linde, a German producer of industrial gases, have clinched a takeover of BOC, its bigger British rival, for
around ¬12 billion ($14.4 billion) without the help of Deutschland AG? That is the name commonly applied to the
cosy me fuel dispenser shing of finance and industry that for decades gave corporate Germany its legendary strength.
Three big German financial institutions, which are simultaneously Linde s main shareholders, and two other banks,
will lend more than ¬15 billion to bridge the BOC takeover. It seems like a reversion to type in Germany, which has
lately become more the hunting ground of private equity and other creative forms of finance.
But the story is more complicated than that. Deutsche Bank, Commerzbank and Allianz (which owns Dresdner
Bank) together own 32% of Linde. All three institutions have been steadily selling their industrial holdings since
2001 when capital gains tax became more favourable. But they hung on to Linde, mainly because the complex
conglomerate, with refrigerators, forklift trucks and gas-making in its portfolio, fuel dispenser needed restructuring.
Wolfgang Reitzle, Linde s chief executive since 2003, sold the fri fuel dispenser dges, bought AGA, a Swedish gas specialist, and
steered the firm towards becoming a “pure gas play� BOC and Linde had been talking for years, they even have a
joint venture in America, but until last year the takeover could easily have been the other way round. At one point
in 2003 Linde had a market capitalisation of a mere ¬2.7 billion. Today it is worth ¬8.6 billion.
But buying BOC still requires an ambitious piece of financing. Helpfully, financin