Industrial Gas: Adenia Partners buy 12 African subsdiaries from Air Liquide, including the one in Togo

Energy

Monday, 18 March 2024 16:23

Industrial Gas: Adenia Partners buy 12 African subsdiaries from Air Liquide, including the one in Togo

(Togo First) - Last week, Adenia Partners announced it has acquired 12 subsidiaries of Air Liquide, a French industrial gas group. Adenia, a Mauritius-based private equity firm, indicated that the businesses acquired are spread across West and Central Africa. Togo is included.

Established in Togo in 1970, the French company Air Liquide supplies a range of industrial and medical gases, based on fundamental molecules such as oxygen, nitrogen, and hydrogen. The multinational also designs fluid distribution systems for the medical and laboratory sectors and offers welding and cutting solutions.

The purchase is a prelude to the formation of an independent industrial gas group. The 12 countries hosting the subsidiaries are Benin, Burkina Faso, Cameroon, Congo, Côte d'Ivoire, the Democratic Republic of Congo, Gabon, Ghana, Madagascar, Mali, Senegal, and Togo. Their names will change and they will be pooled under a new entity.

In a press release, Air Liquide added that it sold the assets for around €60 million. That is less than 10% of the Group's total sales in Africa.

Adenia Partners, which manages over $800 million in assets through more than 30 investments, promises to support the growth of this new sector of its portfolio with long-term investments of up to €30 million.

The African industrial sector currently experiences growth, as demand for essential gases such as oxygen and nitrogen increases. These gases are used in many fields, from healthcare to industrial processing.

Fiacre E. Kakpo

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.