{"id":581592,"date":"2023-02-16T00:00:00","date_gmt":"2023-02-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/16\/adnoc-distribution-closes-acquisition-of-50-of-totalenergies-egypt\/"},"modified":"2023-02-16T00:00:00","modified_gmt":"2023-02-16T00:00:00","slug":"adnoc-distribution-closes-acquisition-of-50-of-totalenergies-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/16\/adnoc-distribution-closes-acquisition-of-50-of-totalenergies-egypt\/","title":{"rendered":"Adnoc Distribution closes acquisition of 50% of TotalEnergies Egypt"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Adnoc Distribution now owns half of one of Egypt\u2019s largest fuel retailers:<\/span><span style=\"\"> <\/span><span>Adnoc Distribution, the distribution arm of UAE\u2019s state oil company Abu Dhabi National Oil Company, has completed its acquisition of a 50% stake in fuel retailer TotalEnergies Egypt, it said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/2769230_ADNOC-DISTRIBUTION-COMPLETES-ACQUISTION-OF-50-STAKE-IN-TOTALENERGIES-EGYPT-English-15022023.pdf\" style=\"\">a statement (pdf)<\/a><\/span><span> yesterday. The acquisition marks Adnoc\u2019s entry into the Egyptian <\/span><span style=\"\">fuel distribution<\/span><span> market. The transaction has been in the works since <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/07\/31\/adnoc-is-buying-50-of-filling-station-chain-totalenergies-egypt-76795\/\" style=\"\">last July<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What they bought:<\/span><span style=\"font-weight:400;\"> TotalEnergies Egypt is one of the country\u2019s largest fuel retailers. It has a network of 240 fuel stations, more than 100 stores and more than 250 lube changing stations and car washes, as well as other fuel and lube operations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">By the numbers: <\/span><span style=\"font-weight:400;\">Adnoc Distribution could stand to gain a c. 6% jump in EBITDA on a fully-consolidated basis in a year\u2019s time, according to the release. The company\u2019s EBITDA stood at AED 3.5 bn in 2022, while net earnings came in at AED 2.75 bn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It\u2019s 50-50: <\/span><span>Shares of TotalEnergies Egypt are now split equally between Adnoc Distribution and TotalEnergies Marketing Afrique (TEMA). B Investments and another BPE Partners-backed vehicle <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/08\/b-investments-finalizes-exit-from-totalenergies-egypt-95855\/\" style=\"\">exited TotalEnergies Egypt last week<\/a><\/span><span>, divesting their combined 15.38% stake and handing complete ownership of the filling station to TEMA. <\/span><span style=\"\">Adnoc\u2019s <\/span><span style=\"\">acquisition will yield an additional <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/26\/b-investments-exits-totalenergies-egypt-92145\/\" style=\"\">USD 2.2 mn<\/a><\/span><span style=\"\"> for BPE Partners\u2019 B investments<\/span><span style=\"font-weight:400;\"> and USD 3.2 mn for the other BPE Partners-backed vehicle. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The new owners:<\/span><span style=\"font-weight:400;\"> Adnoc Distribution is the largest fuel retailer and distributor in the UAE, operating more than 500 fuel stations and 362 convenience stores. Egypt is the company\u2019s third market after it launched in Saudi Arabia in 2018 where it operates 66 filling stations.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Adnoc is looking to roll out \u201cdigitally-enabled Adnoc service stations\u201d in Egypt <\/span><span style=\"\">and also said it plans to bring its Oasis convenience store brand here. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The acquisition marks Adnoc\u2019s entry into the Egyptian fuel distribution market<\/p>\n","protected":false},"author":1,"featured_media":581593,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[1703,6698,140,93,72,125,7128,91,338,2192],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-adnoc","tag-adnoc-distribution","tag-b-investments","tag-energy","tag-enterpriseam","tag-investment-watch","tag-ma-watch","tag-oil-and-gas","tag-retail","tag-totalenergies-egypt","wpautop","entry"],"acf":{"mongo_id":"75784c1b-8241-45cc-affa-165e236ca996","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/2\/ADNOC-1600-px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[581585],"teaser":"The acquisition marks Adnoc\u2019s entry into the Egyptian fuel distribution market","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.963d2523-6ac4-4c30-b411-aa004954adc9.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Private equity outfit B Investments is \u201cevaluating all options\u201d after Adnoc Distribution agreed to buy 50% of TotalEnergies Egypt last week, B Investments IR head Omar El Labban told Enterprise.B Investments is the only minority shareholder in TotalEnergies Egypt: Under the\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/97.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581330,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/08\/b-investments-finalizes-exit-from-totalenergies-egypt\/","url_meta":{"origin":581592,"position":1},"title":"B Investments finalizes exit from TotalEnergies Egypt","author":"enterpriseam admin","date":"8 February 2023","format":false,"excerpt":"BPE Partners\u2019 B Investments has completed the sale of its entire 6.38% stake in TotalEnergies Egypt to TotalEnergies Marketing Afrique (TEMA) for USD 27.6 mn, the company said in an EGXdisclosure (pdf). The transaction came alongside a separate BPE Partners-backed vehicle\u2019s exit of its 9% stake to TEMA for USD\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/TotalEnergies-Logo-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548201,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/31\/adnoc-is-buying-50-of-filling-station-chain-totalenergies-egypt\/","url_meta":{"origin":581592,"position":2},"title":"Adnoc is buying 50% of filling station chain TotalEnergies Egypt","author":"enterpriseam admin","date":"31 July 2022","format":false,"excerpt":"Adnoc is entering Egypt\u2019s fuel retail space: The distribution arm of Abu Dhabi National Oil Company (Adnoc) has agreed to acquire 50% of TotalEnergies Egypt, according to a pressrelease(pdf) Thursday. Adnoc Distribution could pay up to USD 203 mn for the shares, which the company said would be the largest\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/315.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":583259,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/15\/this-evening-adnoc-now-owns-half-of-totalenergies-sturgeon-is-out\/","url_meta":{"origin":581592,"position":3},"title":"THIS EVENING: Adnoc now owns half of TotalEnergies + Sturgeon is out","author":"enterpriseam admin","date":"15 February 2023","format":false,"excerpt":"Good afternoon, wonderful people. It\u2019s a busy Wednesday afternoon, with a pipeline of news to keep you busy as we count down to the weekend. THE BIG STORY TODAY Adnoc Distribution now owns half of one of Egypt\u2019s largest fuel retailers: Adnoc Distribution, the distribution arm of UAE\u2019s state oil\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/wp-content\/uploads\/2021\/08\/agreement-1600px-e1633354302226.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548881,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/b-investments-now-has-until-mid-sept-to-mull-adnocs-bid-for-totalenergies-egypt\/","url_meta":{"origin":581592,"position":4},"title":"B Investments now has until mid-Sept to mull Adnoc\u2019s bid for TotalEnergies Egypt","author":"enterpriseam admin","date":"25 August 2022","format":false,"excerpt":"Filing error gives B Investments more time to respond to Adnoc\u2019s bid for TotalEnergies Egypt: B Investments has been granted an extension until 15 September to decide whether it will preempt Adnoc\u2019s bid to acquire 50% of TotalEnergies Egypt, the company said in an EGXdisclosure (pdf) yesterday. The private equity\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/389.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":622379,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/05\/adnoc-distribution-to-manufacture-motor-oil-in-egypt-before-the-end-of-2024\/","url_meta":{"origin":581592,"position":5},"title":"Adnoc Distribution to manufacture motor oil in Egypt before the end of 2024","author":"enterpriseam admin","date":"5 June 2024","format":false,"excerpt":"The company is also looking into obtaining a license to establish charging stations for EVs","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/402.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/581592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=581592"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/581592\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/581585"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/581593"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=581592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=581592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=581592"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=581592"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=581592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}