BPE Partners sells stake in TotalEnergies Marketing Egypt

BPE Partners’ investment vehicle, B Investments, has signed agreements to sell its entire 6.38% stake in TotalEnergies Marketing Egypt to TotalEnergies Marketing Afrique (TEMA) for $27.6 million. B Investments is also eligible for an additional $2.2 million subject to certain milestones concerning TEMA’s transaction with Abu Dhabi National Oil Company for Distribution.

In 2013, B Investments acquired a stake in TotalEnergies Marketing Egypt through a capital increase, which supported the company in increasing its retail gas stations from 70 to 240 by 2022.

This transaction, which is subject to regulatory approval, is expected to close in Q1 2023.