ADNOC Distribution completed its acquisition from TotalEnergies Marketing Afrique SAS of a 50% stake in TotalEnergies Marketing Egypt LLC. This transaction, which was first announced in July 2022, marks the official entry of the UAE’s fuel and retail distributor into the Egyptian market.
The deal includes a diversified downstream portfolio of 240 fuel retail stations, 100+ convenience stores, 250+ lube changing stations, and car washes, as well as wholesale fuel, aviation fuel, and lubricant operations.
In addition to introducing the digitally-enabled ADNOC service station offering to customers in Egypt, ADNOC Distribution also plans to bring its signature Oasis convenience store to the market.
“We are excited about our move into a fast-growing market like Egypt which has significant potential in fuel retail and mobility solutions. To have TotalEnergies as our partner in Egypt offers great strength and stability, and we look forward to working closely with them to foster potential growth opportunities across the region. Closing this transaction marks a significant milestone in ADNOC Distribution’s international growth journey, demonstrating our ability to expand in attractive international markets, and reaffirming our commitment to our Smart Growth Strategy. Egypt is the Arab world’s most populous country with great economic potential, and we look forward to bringing our offering to this dynamic market,” Bader Saeed Al Lamki, CEO of ADNOC Distribution, said.
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