Air Liquide Announces the Divestiture of Some Activities in Africa

PARIS, March 14, 2024--(BUSINESS WIRE)--Regulatory News:

Air Liquide (Paris:AI) announces the divestiture to Adenia Partners Ltd of the Group’s activities in twelve countries in Africa representing a total annual sales of about 60 million euros.

Air Liquide has signed an agreement with Adenia to sell its activities in the following twelve countries in Africa: Benin, Burkina Faso, Cameroon, Congo, Côte d'Ivoire, Gabon, Ghana, Madagascar, Mali, Democratic Republic of Congo, Senegal and Togo. These activities represent sales of about 60 million euros (less than 10% of the Group’s sales in Africa).

The proposed divestiture, which is subject to the usual regulatory and financial approvals, illustrates Air Liquide’s strategy to actively manage its portfolio. Adenia, a recognized investor in Africa for over 20 years, plans to invest up to 30 million euros to accelerate the development of these businesses.

With approximately 1,600 employees in the region and 700 million euros invested in the last 3 years, Air Liquide will remain a major industrial and medical gases player in Africa where it will continue to pursue development opportunities, particularly in the fields of energy transition, hydrogen and healthcare.

Air Liquide is a world leader in gases, technologies and services for industry and healthcare. Present in 72 countries with 67,800 employees, the Group serves more than 4 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the Group’s activities since its creation in 1902.

Taking action today while preparing the future is at the heart of Air Liquide’s strategy. With ADVANCE, its strategic plan for 2025, Air Liquide is targeting a global performance, combining financial and extra-financial dimensions. Positioned on new markets, the Group benefits from major assets such as its business model combining resilience and strength, its ability to innovate and its technological expertise. The Group develops solutions contributing to climate and the energy transition—particularly with hydrogen—and takes action to progress in areas of healthcare, digital and high technologies.

Air Liquide’s revenue amounted to more than 27.5 billion euros in 2023. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50, FTSE4Good and DJSI Europe indexes.

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