Air Liquide Signs an Agreement to Divest Its Business in Trinidad and Tobago

Rhea-AI Summary

Air Liquide has signed an agreement to divest its business in Trinidad and Tobago to Massy Gas Products Holding Ltd. Approximately 30 employees will transition to MGPHL as part of this deal. This divestiture aligns with Air Liquide's strategy to focus on fast-developing areas, especially in Latin America, where it aims to capitalize on opportunities in the clean energy transition, particularly hydrogen. The agreement is pending regulatory approval from the Trinidad & Tobago Fair Trading Commission.

Positive

• Strategic divestiture allows Air Liquide to focus on high-growth areas.
• Positioning to capitalize on clean energy opportunities in Latin America.

Negative

• None.

PARIS--(BUSINESS WIRE)-- Regulatory News:

Air Liquide (Paris:AI) announces that it has signed an agreement to divest its business in Trinidad and Tobago to Massy Gas Products Holding Ltd. (“MGPHL”).

As a consequence of this divestiture, the approximately 30 employees of this business will be integrated within MGPHL. This transaction is part of Air Liquide’s strategy to regularly review its asset portfolio and focus on selected fast developing areas and activities.

Air Liquide is well-positioned to further grow its presence in Latin America where it intends to pursue the opportunities emerging with the clean energy transition, including hydrogen energy leveraging the area's abundant natural resources.

This agreement is subject to regulatory approvals of the Trinidad & Tobago Fair Trading Commission for completion and other customary closing conditions.

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A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 75 countries with approximately 66,400 employees and serves more than 3.8 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 company’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 23 billion euros in 2021. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50 and FTSE4Good indexes.

www.airliquide.com
Follow us on Twitter @airliquidegroup

View source version on businesswire.com: https://www.businesswire.com/news/home/20221205005603/en/

Corporate Communications Group

media@airliquide.com

Investor Relations

IRTeam@airliquide.com

Source: Air Liquide

FAQ

What is Air Liquide's recent divestiture regarding AIQUY?

Air Liquide has divested its business in Trinidad and Tobago to Massy Gas Products Holding Ltd.

How many employees are affected by Air Liquide's divestiture in Trinidad and Tobago?

Approximately 30 employees will be integrated into Massy Gas Products Holding Ltd.

What opportunities is Air Liquide pursuing in Latin America?

Air Liquide aims to capitalize on opportunities related to the clean energy transition, particularly hydrogen.

Is the divestiture of the Trinidad and Tobago business final?

No, the divestiture is subject to regulatory approvals from the Trinidad & Tobago Fair Trading Commission.