B Investments to offload 20% of its stake in Total Egypt

M&A WATCH- B Investments to offload a fifth of its holdings in Total Egypt: B Investments has entered talks with Total Egypt to sell 20% of its holdings in the company, it announced in a statement (pdf) to the EGX. The private equity outfit currently holds a 7.97% stake in the energy giant’s Egypt downstream arm, which operates more than 230 service stations, is a player in the aviation fuels market, and which owns tank farms and blending facilities. The company also operates Bonjour-branded convenience stores in Egypt.