B investments starts discussions to sell its 20% TOTAL Egypt stake

B Investments Holding and its affiliates (all managed by BPE Partners) has announced that it has initiated discussions with TOTAL Egypt to sell 20% of its 9.67% stake in the latter.

B Investments entered into a partnership with TOTAL Egypt in 2013 in the areas of retail service stations, lubricants, commercial and industrial operations, aviation and logistics. According to B Investments, together with TOTAL SA through TOTAL Egypt, they jointly acquired and integrated the downstream assets of Chevron Egypt and Shell Egypt.

TOTAL Egypt was established in 1998 and it is active across the entire oil product distribution sector, with general sales, lubricants, marine and aviation activities as well as a retail network. Presently, it has 230 employees with around 239 service stations countrywide.

For distribution purposes, TOTAL has four depots; two in Cairo and one in Suez and Alexandria respectively. TOTAL also has contracts with importers and automobile dealers for the supply of lubricants. They include: Abou Ghali (Hyundai, GM, BMW, Nissan, Mapple, JMC), EATC (VW and Audi), KAYAN (SEAT), Diamond Motors (Mitsubishi) and EIM (Renault). Moreover, TOTAL Egypt has its own lubricant blending plant where it manufactures both industrial and automotive lubricants.

B Investments is an Egypt-based private equity firm and growth capital investor which was established in 2006. It has a diversified set of investments across distinct sectors: real estate development, downstream oil and gas, IT system integration, non-banking financial services, renewable energy, manufacturing and food & beverage.