The deal also includes Air Liquide’s share in Air Liquide Khafra Industrial Gases (ALKIG). Air Liquide bought 75% of Riyadh-based Khafra Industrial gases in July 2009, according to a media report.

Air Liquide said the divestment is a result of the group’s strategy to regularly review its portfolio and it also complements the sale of its industrial merchant business in the United Arab Emirates and Bahrain to Air Products, which was announced in April.

The Paris-based firm added that it is well-positioned to further grow its already strong presence in the Gulf Cooperation Council region, particularly in Saudi Arabia, as well as in large industries and healthcare businesses, along with pursuing the many opportunities emerging with clean hydrogen and the energy transition.

Author: Elaine Burridge, Freelance Journalist