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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Air Liquide SA | EU:AI | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 169.22 | 169.00 | 169.70 | 0.00 | 01:00:00 |
By Joshua Kirby
Air Liquide SA said Friday that it will leave Russia, transferring its activities to a local management team and deconsolidating its business there as of this month.
The decision to leave the country comes in light of the geopolitical context, the French industrial-gas company said. Air Liquide had previously set out a provision of 404 million euros ($401.9 million) relating to its assets in Russia following its invasion of Ukraine earlier this year.
Air Liquide will transfer its Russian assets to a local management team via a buyout subject to regulatory approval, the company said. It employs around 720 people in Russia, which accounts for less than 1% of group revenue, it said.
The divestment to a local team will ensure a sustainable transfer of its activities, notably the supply of oxygen to hospitals, Air Liquide said.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
September 02, 2022 03:09 ET (07:09 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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