Air Liquide has completed its divestiture of its business activities in 12 African countries to investment firm Adenia Partners Ltd. (Source: Shutterstock)
Industrial gases supplier Air Liquide has completed its divestiture of its business activities in 12 African countries to investment firm Adenia Partners Ltd., the French company announced July 23.
The transaction represents total annual sales of approximately 60 million euros (US$65.12 million), which is less than 10% of Air Liquide’s sales in Africa, according to the company’s March 14 release.
The activities are sold in Benin, Burkina Faso, Cameroon, Congo, Côte d’Ivoire, Gabon, Ghana, Madagascar, Mali, Democratic Republic of Congo, Senegal and Togo.
Adenia, which has invested in projects in Africa for over 20 years, plans to invest up to 30 million euros (US$32.56 million) to accelerate the activities’ developments.
Air Liquide said it invested 700 million euros (US$760 million) in Africa in the last three years, cementing its position as an industrial and medical gases player in the region.
The company also plans to continue developing its energy transition, hydrogen and healthcare portfolio in Africa.
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