(Ecofin Agency) - French industrial gas giant Air Liquide announced yesterday it has sold its operations in twelve Sub-Saharan African countries to the investment firm Adenia Partners. The announcement was made in a press release that did not disclose the financial details of the transaction.

The countries involved in the deal include Benin, Burkina Faso, Cameroon, Congo, Côte d'Ivoire, Gabon, Ghana, Madagascar, Mali, the Democratic Republic of the Congo, Senegal, and Togo. The operations sold account for a revenue of around €60 million (about $65.2 million), representing less than 10% of Air Liquide's total revenue in Africa.

The buyer -Adenia Partners, which has over 20 years of experience on the continent, plans to invest up to €30 million to accelerate the development of these operations. The sale is subject to customary regulatory and financial approvals and reflects Air Liquide’s strategy of regularly reviewing its business portfolio.

Despite this divestiture, Air Liquide remains a significant player in the African market for industrial and medical gases. The company employs around 1,600 people in the region and has invested €700 million over the past three years. It continues to explore development opportunities on the continent, focusing on areas such as energy transition, hydrogen, and healthcare.