Arab Finance: ADNOC Distribution has finalized the acquisition of a 50% stake in TotalEnergies Marketing Egypt from TotalEnergies Marketing Afrique SAS, according to a press release on February 15^th.

The deal is expected to boost ADNOC Distribution's earnings before interest, taxes, depreciation, and amortization (EBITDA).

TotalEnergies Marketing Egypt is one of the largest fuel retail companies in Egypt, and the acquisition is a good step in ADNOC Distribution's international expansion plans.

The partnership with TotalEnergies includes a diversified business portfolio that includes 240 fuel retail stations, more than 100 convenience stores, over 250 lube changing stations, and car washes, as well as wholesale fuel, aviation fuel, and lubricant operations.

“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 commitment to our Smart Growth Strategy,” Bader Saeed Al Lamki, CEO of ADNOC Distribution, said.

“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,” Al Lamki added

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