By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Madbouly discusses ways to boost metallurgical industries 
    Madbouly discusses ways to boost metallurgical industries 
    September 25, 2023
    FRA to launch futures contracts trading in derivatives market
    FRA to launch futures contracts trading in derivatives market
    September 25, 2023
    We work with Tax Authority to control prices, support consumers: Philip Morris Misr
    We work with Tax Authority to control prices, support consumers: Philip Morris Misr
    September 25, 2023
    Mahmoud Mohieldin says global finance reform needed for just green transitions
    Arab region has great opportunities to harness digitalisation, AI in making progress in implementing climate action: Mahmoud Mohieldin
    September 24, 2023
    FRA to launch voluntary carbon market with 6 local projects
    FRA to launch voluntary carbon market with 6 local projects
    September 24, 2023
  • Politics
    PoliticsShow More
    Defence Minister meets NATO Military Committee chief
    Defence Minister meets NATO Military Committee chief
    September 25, 2023
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    September 24, 2023
    Al-Sisi highlights opportunities for mutual benefit with China
    Al-Sisi highlights opportunities for mutual benefit with China
    September 24, 2023
    Egypt, India affirm their strategic partnership, discuss regional issues
    Egypt, India affirm their strategic partnership, discuss regional issues
    September 24, 2023
    Pope Francis denounces ‘invasion’ rhetoric on migrants
    Pope Francis denounces ‘invasion’ rhetoric on migrants
    September 24, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: B Investments to sell its stake in TotalEnergies Marketing Egypt for $27.6m
Share
Notification
Latest News
Madbouly discusses ways to boost metallurgical industries 
Madbouly discusses ways to boost metallurgical industries 
Business
FRA to launch futures contracts trading in derivatives market
FRA to launch futures contracts trading in derivatives market
Business
Defence Minister meets NATO Military Committee chief
Defence Minister meets NATO Military Committee chief
Egypt Politics
We work with Tax Authority to control prices, support consumers: Philip Morris Misr
We work with Tax Authority to control prices, support consumers: Philip Morris Misr
Business
Mahmoud Mohieldin says global finance reform needed for just green transitions
Arab region has great opportunities to harness digitalisation, AI in making progress in implementing climate action: Mahmoud Mohieldin
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > B Investments to sell its stake in TotalEnergies Marketing Egypt for $27.6m
Business

B Investments to sell its stake in TotalEnergies Marketing Egypt for $27.6m

Fatma Salah
Last updated: 2022/12/27 at 6:41 PM
By Fatma Salah 1 Min Read
Share
B Investments to sell its stake in TotalEnergies Marketing Egypt for $27.6m
SHARE

B Investments will sign a put option agreement over its 6.3% stake in TotalEnergies Marketing Egypt to TotalEnergies Marketing Afrique, for $ 27.6m.

B Investments will receive additional $2.2m in the event that some of the conditions in the acquisition deal between ADNOC Distribution and TotalEnergies Marketing Afrique were met.

ADNOC Distribution signed an agreement last July to acquire a 50% stake in TotalEnergies Marketing Egypt for a consideration of approximately $200m. This new transaction follows the signing of the strategic partnership agreement signed by TotalEnergies and ADNOC.

Established in 1998, TotalEnergies Egypt operates about 7% of service stations in Egypt. The contemplated partnership between TotalEnergies, a leading global multi-energy company, and ADNOC Distribution, the UAE’s largest fuel retail distributor, includes a portfolio comprising 240 fuel retail stations, as well as wholesale fuel activities, an aviation fuel business, and lubricants sales.

The Acquisition is expected to complete in Q1 2023 pending satisfaction of certain conditions, including customary regulatory approvals.

You Might Also Like

Madbouly discusses ways to boost metallurgical industries 

FRA to launch futures contracts trading in derivatives market

We work with Tax Authority to control prices, support consumers: Philip Morris Misr

Arab region has great opportunities to harness digitalisation, AI in making progress in implementing climate action: Mahmoud Mohieldin

FRA to launch voluntary carbon market with 6 local projects

TAGGED: TotalEnergies
Share this Article
Facebook Twitter Email Print
Previous Article Egypt produces 21 films in 2022, less than previous years Egypt produces 21 films in 2022, less than previous years
Next Article Where do you invest your money in times of crisis? Where do you invest your money in times of crisis?
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Madbouly discusses ways to boost metallurgical industries 
Madbouly discusses ways to boost metallurgical industries 
Business
FRA to launch futures contracts trading in derivatives market
FRA to launch futures contracts trading in derivatives market
Business
Defence Minister meets NATO Military Committee chief
Defence Minister meets NATO Military Committee chief
Egypt Politics
We work with Tax Authority to control prices, support consumers: Philip Morris Misr
We work with Tax Authority to control prices, support consumers: Philip Morris Misr
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?