Industrial gas giant Air Liquide has signed a deal to divest its activities in 12 African countries, representing total annual sales of about € 60 million, to investment firm Adenia Partners.

The activities to be sold are in Benin, Burkina Faso, Cameroon, Congo, Côte d’Ivoire, Gabon, Ghana, Madagascar, Mali, the Democratic Republic of Congo, Senegal, and Togo.

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 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.