Adenia to acquire 12 Air Liquide subsidiaries in Africa
Adenia Partners has signed an agreement with Air Liquide for the acquisition of 12 of its African subsidiaries.
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Adenia Partners has signed an agreement with Air Liquide, a supplier of industrial and medical gases, for the acquisition of 12 of its subsidiaries in West and Central Africa and the Indian Ocean.
As part of the agreement, the entities and employees in Benin, Burkina Faso, Cameroon, Congo, Côte d'Ivoire, Gabon, Ghana, Madagascar, Mali, Democratic Republic of Congo, Senegal and Togo will form a new, independent, pan-African industrial gases group, that Adenia intends to strengthen and develop through long-term support and additional investments of up to €30 million.
In addition, as part of the transaction, Air Liquide has entered a long-term contract with Adenia for the supply of numerous industrial and specialty gases. These supplies, together with Air Liquide's support in the transition, notably through a technical assistance contract, will complement future investments.
Christophe Scalbert, partner at Adenia commented, "With a presence in 12 countries, sales approaching €60 million, and unique expertise and teams, we see the emergence of a continental leader that will benefit from strong infrastructure development, increasing industrial activities and natural resources industries on the African continent. Adenia intends to accelerate the growth of this new group by investing heavily in production and storage capacity to better serve its customers."
Completion of this transaction is subject to customary regulatory approvals.
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