Air Liquide sells its Russian subsidiary to its local managers
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After five months of reflection, the industrial gas giant has found the solution to leave Russia.
Another large French group is winding up its Russian adventure. Six months after the start of the war in Ukraine, five months after announcing “reflect» to leave the country, Air Liquide eventually found a way out of this country ostracized from the Western world. “The will has always been there, but we don’t go out like thatunderlines a source close to the group. On site, there are 720 employees, and hospitals whose oxygen supply depends on Air Liquide.» Russia was marginal – barely 1% – in the overall turnover of the French group.
Russian activities ofLiquid air will soon be taken over by its local leaders. “The group has signed a letter of intent with the local management team aimed at transferring its activities in Russia to it in the form of an MBO (Management Buy Out)”, that is to say the takeover of a company by its managers, explains the industrialist. The formula has already won over, among the major French groups that have left Russia, Publicis, Schneider…
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