B Investments Holdings announces that it has signed a contract selling 20% of its stake in Total Egypt to Total France for EGP 10.5 million.
The company added in a statement that with the completion of the deal, the share of B Investments Holding in Total Egypt has gone down from 7.97% to 6.38%.
In August, B Investments announced that it had begun preliminary negotiations to exit 20% of its total stake in Total Egypt.
Total Egypt is a subsidiary of Total established in 1998. The company is active across the entire oil product distribution sector, with general sales, lubricants, marine and aviation activities as well as a retail network. The company currently employs 230 people.
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