Energy UAE’s ADNOC Distribution buys 50% stake in TotalEnergies Egypt By Pramod Kumar July 29, 2022 TotalEnergies Egypt The TotalEnergies Egypt deal, which is expected to be completed in Q1 2023, will see ADNOC Distribution add another 240 fuel retail stations to its portfolio Abu Dhabi’s ADNOC Distribution has signed a $186 million agreement with TotalEnergies Marketing Afrique SAS to acquire a 50 percent stake in its Egypt unit. Established in 1998, TotalEnergies Egypt is among the top four fuel retail operators in the north African country. Listed on the Abu Dhabi Securities Exchange, ADNOC Distribution operates 464 retail fuel stations and 350 convenience stores in the UAE. Since 2018 it has operated 55 retail fuel stations in Saudi Arabia. The TotalEnergies Egypt deal, which is expected to be completed in Q1 2023, will see ADNOC Distribution add another 240 fuel retail stations to its portfolio. “This acquisition marks a significant milestone in ADNOC Distribution’s international growth story,” Dr. Sultan Ahmed Al Jaber, minister of industry and advanced technology, managing director and group CEO of ADNOC, and chairman of ADNOC Distribution, said. “Egypt is the Arab world’s most populous country and we look forward to entering such a dynamic market.”
