(AFP / JULIEN DE ROSA)
Announced last March, “the transaction (…) was finalized in two stages”, indicates a press release from TotalEnergies.
Total amount: 3.4 billion euros. On Wednesday January 3, TotalEnergies finalized the sale of service stations in Europe to the Canadian distribution, food and fuel group Couche-Tard. This transaction should allow the French group
to anticipate the end of sales of new thermal vehicles
on the continent in 2035.
The French oil and gas group indicates in a press release that it has received “a total cash amount after adjustments and before taxes of 3.4 billion euros”. Announced last March, “the transaction, based on an enterprise value of 3.1 billion euros (…), was
finalized in two stages,
on December 28, 2023 with the transaction relating to the network in Germany and on January 3, 2024, with the transactions relating to the networks in the Netherlands, Luxembourg and Belgium”, explained the group. This acquisition “includes
100% of assets
in connection with the retail business of TotalEnergies in Germany and the Netherlands”, i.e. 1,191 service stations located in Germany and 378 in the Netherlands, detailed the Alimentation Couche-Tard group in a press release. In Belgium and in Luxembourg, this agreement takes the form of a
joint venture between TotalEnergies (40%) and Couche-Tard (60%)
to operate 606 gas stations, he added.
The sites in these four countries will continue to be supplied by TotalEnergies “for at least five years, in particular thanks to its refineries in Antwerp (Belgium) and Leuna (Germany)”, specified the French company.
End of sales of new thermal vehicles in Europe from 2035
The vote of the European Parliament in mid-February providing
the ban on sales of new thermal vehicles in Europe in 2035,
for the benefit in particular of electric vehicles, “encourages TotalEnergies to make decisions regarding the future of its networks in Europe which will be faced with a loss of their revenues linked to fuels, while electric vehicles will recharge mainly at home or at work and less in stations”, explained the French oil giant in March.
In Germany and the Netherlands, countries in which the group says it is not a leader, it indicated in March that it wanted to concentrate on “the
development of new mobility
(electric and hydrogen)”. In Belgium and Luxembourg, where the French giant claims to be the leader, it counts
accelerate the transformation
of these two networks by maximizing their sales excluding petroleum fuels”. Since 2015, TotalEnergies has already sold its service station networks in Italy, Switzerland and the United Kingdom.