Egypt: BPE Partners finalises TotalEnergies exit

BPE Partners has announced that its flagship-managed investment vehicle, B Investments, has finalised the sale of its entire stake of 6.38% in TotalEnergies Marketing Egypt LLC to TotalEnergies Marketing Afrique (TEMA) for a total consideration of $27.6 million.

Furthermore, B Investments is eligible for an additional amount equal to $2.2 million subject to certain milestones concerning TEMA’s transaction with Abu Dhabi National Oil Company for Distribution (ADNOC).

In 2013, B Investments acquired 7.97% of TotalEnergies Marketing Egypt through a capital increase which supported the company to increase its retail gas stations from 70 stations to 240 stations in 2022.