Air Liquide (AIQUY) to Divest Some Operations in Africa

L'Air Liquide SA AIQUY has signed a deal with Adenia to sell some of its operations in the 12 African countries. These operations generate revenues of around €60 million ($65 million), accounting for less than 10% of the group's sales in Africa.

The proposed sale, which is subject to standard regulatory and financial approvals, exemplifies Air Liquide's approach to aggressively managing its portfolio. The operations that are being sold are situated in Benin, Burkina Faso, Cameroon, Congo, Côte d'Ivoire, Gabon, Ghana, Madagascar, Mali, Democratic Republic of Congo, Senegal and Togo.

Adenia, a well-known investor in Africa for more than 20 years, intends to contribute up to €30 million ($32.7 million) to accelerate the growth of these companies.

Air Liquide will remain a major industrial and medical gases player in Africa, with approximately 1,600 employees and 700 million euros invested in the last three years. The company will continue to pursue development opportunities, particularly in the fields of energy transition, hydrogen and healthcare.

Positioned in new markets, the group benefits from key assets such as its strong business model, innovation and technology knowledge. The group explores solutions for climate and energy transition, particularly using hydrogen, and works to advance healthcare, digital and high technology.

Shares of Air Liquide have gained 31.7% over the past year against a 4.5% decline of its industry.

Zacks Investment Research
Image Source: Zacks Investment Research

Zacks Rank & Key Picks

Air Liquide currently carries a Zacks Rank #3 (Hold).

Better-ranked stocks in the basic materials space include Denison Mines Corp. DNN, Carpenter Technology Corporation CRS and Hawkins, Inc. HWKN.

Denison Mines carrying a Zacks Rank #1 (Strong Buy). DNN beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 300%. The company’s shares have soared 84.3% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.

Carpenter Technology currently carries a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company’s shares have soared 63.7% in the past year.

The Zacks Consensus Estimate for Hawkins’ current fiscal year earnings is pegged at $3.61 per share, indicating a year-over-year rise of 26.2%. The Zacks Consensus Estimate for HWKN’s current-year earnings has been revised 4.3% upward in the past 30 days. HWKN, a Zacks Rank #2 (Buy) stock, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 30.6%. The company’s shares have rallied roughly 83.5% in the past year.

Infrastructure Stock Boom to Sweep America

A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.

The only question is “Will you get into the right stocks early when their growth potential is greatest?”

Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

Download FREE: How To Profit From Trillions On Spending For Infrastructure >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Air Liquide (AIQUY) : Free Stock Analysis Report

Carpenter Technology Corporation (CRS) : Free Stock Analysis Report

Denison Mine Corp (DNN) : Free Stock Analysis Report

Hawkins, Inc. (HWKN) : Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.