Air Liquide to sell businesses in 12 African countries to Adenia
TLDR
- Air Liquide divests operations in twelve African countries, annual sales volume of 60 million euros, sells to Adenia Partners Ltd.
- Adenia Partners Ltd, experienced investor in Africa, to invest up to 30 million euros for accelerated growth.
- Air Liquide retains presence in Africa, focusing on industrial and medical gases, energy transition, and healthcare opportunities.
Air Liquide is divesting its operations in twelve African countries, with a combined annual sales volume of 60 million euros ($65 million) - less than 10% of the Group’s sales in Africa.
The company has entered into an agreement with Adenia Partners Ltd for the sale of its activities in Benin, Burkina Faso, Cameroon, Congo, Côte d'Ivoire, Gabon, Ghana, Madagascar, Mali, the Democratic Republic of Congo, Senegal, and Togo.
The proposed divestiture, subject to regulatory and financial approvals, aligns with Air Liquide's strategy of actively managing its portfolio. The announcement follows a similar exit announcement by Societe Generale.
Key Takeaways
With around 1,600 employees in the region and 700 million euros invested in the last 3 years, Air Liquide says it will remain a major industrial and medical gases player in Africa where it will continue to pursue development opportunities, particularly in the fields of the energy transition, hydrogen, and healthcare. Adenia, a seasoned investor in Africa with over two decades of experience, intends to invest up to 30 million euros ($33 million) to expedite the growth of these businesses.
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