Air Liquide divests African operations to Adenia Partners

PARIS, FRANCE: Air Liquide (Paris: AI) has announced the sale of its operations in twelve African nations to Adenia Partners Ltd. The divestiture encompasses the group’s activities in Benin, Burkina Faso, Cameroon, Congo, Côte d’Ivoire, Gabon, Ghana, Madagascar, Mali, Democratic Republic of Congo, Senegal, and Togo, which collectively generate annual sales of approximately 60 million euros.

This transaction, which is contingent upon standard regulatory and financial approvals, reflects Air Liquide’s commitment to active portfolio management. Adenia Partners, a firm with over two decades of investment experience in Africa, intends to inject up to 30 million euros to foster the growth of these entities.

Despite this divestiture, Air Liquide will continue to be a significant player in the African industrial and medical gases market. The company, with an investment of 700 million euros over the past three years and a workforce of about 1,600 in the region, is poised to capitalize on development opportunities, especially in the realms of energy transition, hydrogen, and healthcare.

A global leader in gases, technologies, and services for industry and healthcare, Air Liquide operates in 72 countries and employs 67,800 people worldwide. The company is dedicated to molecules that are vital for life, matter, and energy—oxygen, nitrogen, and hydrogen—since its inception in 1902.

With its strategic plan, ADVANCE, set for 2025, Air Liquide aims for comprehensive performance, merging financial success with sustainable practices. The group is well-positioned in emerging markets, leveraging its resilient business model, innovative capabilities, and technological prowess. Air Liquide is at the forefront of developing solutions for climate and energy transition, particularly hydrogen, and is making strides in healthcare, digital, and high-tech sectors.

In 2023, Air Liquide’s revenue exceeded 27.5 billion euros. The company is traded on the Euronext Paris stock exchange and is a constituent of the CAC 40, CAC 40 ESG, EURO STOXX 50, FTSE4Good, and DJSI Europe indices.

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