The partnership between TotalEnergies and ADNOC has been further strengthened following the signing by ADNOC Distribution of an agreement to acquire a 50% stake in TotalEnergies Marketing Egypt LLC for a consideration of approximately USD 200 million. The Acquisition is expected to complete in Q1 2023 pending satisfaction of certain conditions, including customary regulatory approvals. 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. ADNOC Distribution operates 464 retail fuel stations, 350 convenience stores as of 31 March 2022 and is the leading marketer and distributor of fuels to commercial, industrial and government customers throughout the UAE.
The partnership between TotalEnergies and ADNOC has been further strengthened following the signing by ADNOC Distribution of an agreement to acquire a 50% stake in TotalEnergies Marketing Egypt LLC for a consideration of approximately USD 200 million. The Acquisition is expected to complete in Q1 2023 pending satisfaction of certain conditions, including customary regulatory approvals. 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. ADNOC Distribution operates 464 retail fuel stations, 350 convenience stores as of 31 March 2022 and is the leading marketer and distributor of fuels to commercial, industrial and government customers throughout the UAE.
