PE firm exits 20% of its stake in Total Egypt

Egypt-based private equity firm B Investments has entered into an agreement to sell 20% of its stake in Total Egypt to Total Outre-Mer for a total consideration of approximately EGP 146 million (about $9.3 million), in accordance with the exit terms pre-agreed with Total at the time of the investment in Total Egypt.

Following the completion of this transaction, B Investments’ stake in Total Egypt will drop from 7.97% to reach 6.38%.

“This transaction marks an important milestone for B Investments,” stated Hazem Barakat, co-founder and chairman of B Investments. “We are very pleased to have been a part of Total Egypt’s growth story and we look forward to continuing our fruitful partnership with Total.”

In 2013, B Investments acquired 7.97% of Total Egypt through a capital increase which supported the company to increase its retail gas stations from 70 stations in 2013 to 240 stations in 2020.

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