TotalEnergies: EU clears acquisition of Total Egypt


(CercleFinance.com) – The European Commission announces that it has approved, under the European Merger Regulation, the acquisition of joint control of TotalEnergies Marketing Egypt LLC (Total Egypt), a company based in Egypt, by Abu Dhabi National Oil Company for Distribution PJSC (ADD), based in the United Arab Emirates, and TotalEnergies Marketing Afrique SAS (TotalEnergies), based in France – the latter already controlling Total Egypt before the operation.

Total Egypt is engaged in fuel and food retailing, car wash services, lubricants, aviation fuel and bulk fuel distribution in Egypt.

ADD markets and distributes petroleum products.

TotalEnergies is active on a global scale in the research, industry and trade of hydrocarbons and more generally in the field of energy.

The Commission concluded that the proposed acquisition would not raise competition concerns, given its very limited impact on the structure of the market.

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