No objection from Brussels
EU Commission allows sale of Total gas stations
November 6th, 2023, 5:00 p.m
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Brussels has no competition concerns: The French energy company Totalenergies is withdrawing from the gas station business and selling its network to the Canadian company Couche-Tard. According to plans, old gas stations will soon be an inviting place to linger.
The Canadian company Couche-Tard is allowed to buy the German gas station network of the French energy group Totalenergies. The EU Commission approved the takeover in Brussels as well as similar projects in Belgium, Luxembourg and the Netherlands. The deal does not give rise to any competition concerns, it said.
Total announced in March that the withdrawal from the gas station business was related to the EU’s goal of climate neutrality and the planned end of the sale of new combustion cars from 2035. For example, electric cars are more likely to be charged at home or in the company, not at the charging stations at gas stations, the company explained. Gas stations are to be transformed into places to stay with shops, restaurants and services. That’s why Totalenergies turned to Couche-Tard, which has experience in this area.
“The filling stations in the four countries will continue to operate under the Totalenergies brand as long as the fuel is supplied by the company, but at least for five years,” it said in the announcement. As both companies announced, Alimentation Couche-Tard has made an offer valuing the business in four countries at 3.1 billion euros.
Totalenergies has already divested itself of gas stations in Italy, Switzerland and Great Britain since 2015. The sale of the gas stations is part of the strategy to “transform into a multi-energy company and achieve CO₂ neutrality by 2050,” it continues. Indirect emissions – for example from burning fuel – are not included.
In 2021, Totalenergies said it emitted around 454 million tons of greenhouse gases, 400 million of which were indirectly. Several environmental organizations have sued the company for “fraudulent business practices” in France over what they see as misleading climate promises.