ADNOC Distribution to acquire a 50% stake in TotalEnergies’ fuel retail, aviation and lubricants business in Egypt

ADNOC Distribution  has  announced it has entered into an agreement with TotalEnergies Marketing Afrique SAS to acquire a 50% stake in TotalEnergies Marketing Egypt LLC (TotalEnergies Egypt) for approximately $186 million, with an additional earn-out of up to $17.3 million (if certain conditions are satisfied) (the Acquisition). Established in 1998,…