German gas giant Linde AG completed the sale of Linde North America Inc. to MG Industries GmbH.

The transaction closed March 1, according to a Federal Energy Regulatory Commission filing.

Linde North America is the parent company of Linde Energy Services Inc., which was created to serve as a load-serving entity that would allow Linde's direct participation in wholesale energy markets across the United States. Linde Energy Services Inc. recently changed its name to Messer Industries GmbH.

MG Industries is a newly created joint-venture company that will be owned by Messer Group GmbH and by investment funds or vehicles including CVC Capital Partners Fund VII. (FERC docket EC18-132)