Total acquires Engie’s 5% stake in Idku LNG train as part of larger transaction

M&A WATCH- Total has acquired Engie’s 5% stake in the first train of the Idku LNGproject in Egypt as part of a larger transaction worth up to USD 2 bn that also includes other assets in the United States, Africa and Europe, the company said in a statement overnight. The transaction, which should close by the middle of next year, will see Total manage a total global LNG volume of nearly 40 mn tons per annum.