Munich  - German industrial gases concern Linde AG disclosed Thursday that it has acquired the remaining 50 per cent equity of Australian company Elgas in a move boosting Linde's position.

Linde said the acquisition cost 126 million euros (176 million US dollars).

"With this transaction we are strengthening our position as the leading gas supplier in Australia," Linde chief executive Wolfgang Reitzle said.

Elgas was established in 1984 as a joint venture of the Linde subsidiary BOC Limited and AGL Energy.

In the 2007 business year, Elgas posted sales turnover equivalent to some 255 million euros, with propane gas being its chief specialty. (dpa)