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French Energy Company Total Outre-Mer Acquires ~1.6% Stake in Total Egypt
French Energy Company Total Outre-Mer Acquires ~1.6% Stake in Total Egypt

French oil and energy company Total Outre-Mer acquired ~1.6% stake in Total Egypt for ~USD 9.3 Mn from Egypt-based private equity firm B Investments. Following this exit, B Investments now has a 6.38% stake in Total Egypt.

Founded in 1998, Total Egypt is one of the largest subsidiaries of French energy company Total SA outside Europe and one of the major operators in Egypt. Since 2013, B Investments held 7.97% stake in Total Egypt and supported the company to expand and increase the number of retail gas stations.