Total Boosts Egyptian Retail Network Through Chevron Deal
Total and Cairo-based investor Beltone have agreed to purchase the Egyptian retail network of US firm Chevron, which the French major said would help to create its biggest retail subsidiary outside Europe. A Total Egypt statement said the agreement covers 66 retail stations, two oil depots and aviation fuel operations at the Cairo and Marsa Alam airports, with combined sales of more than 1.4mn tons/year.
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