REG-TotalEnergies SE TotalEnergies and ADNOC Partner in Fuel Distribution in Egypt

TotalEnergies SEAnnouncement

29/07/2022 07:45

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TotalEnergies and ADNOC Partner in Fuel Distribution in Egypt

 

The partnership between TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and
ADNOC has been further strengthened following the signing by ADNOC
Distribution of an agreement to acquire a 50% stake in TotalEnergies Marketing
Egypt LLC for a consideration of approximately $200 million. This new
transaction follows the signing of the strategic partnership agreement signed
by TotalEnergies and ADNOC on the occasion of the state visit in Paris of His
Highness Sheikh, Mohamed bin Zayed Al Nahyan, President of the United Arab
Emirates.

Established in 1998, TotalEnergies Egypt operates about 7% of service stations
in Egypt. The contemplated partnership between TotalEnergies, a leading global
multi-energy company, and ADNOC Distribution, the UAE’s largest fuel retail
distributor, includes a portfolio comprising 240 fuel retail stations, as well
as wholesale fuel activities, an aviation fuel business, and lubricants sales.

The Acquisition is expected to complete in Q1 2023 pending satisfaction of
certain conditions, including customary regulatory approvals.

Thierry Pflimlin, President Marketing & Services at TotalEnergies, said,
‘’TotalEnergies is pleased to join forces with ADNOC Distribution in
Egypt. The rich experience of an experienced fuel distributor in the GCC
region will bring a significant added value to TotalEnergies Marketing Egypt.
We look forward to collaborating with ADNOC Distribution in a combined growth
strategy.’’

Bader Saeed Al Lamki, CEO of ADNOC Distribution, said, “TotalEnergies Egypt
is a well-established business with a solid track record of operational
excellence and in-depth knowledge of the Egyptian fuel and retail sector. This
move aligns with our vision to establish ADNOC Distribution as a regional
leader in the fuel distribution sector. We look forward to providing the best
possible service to customers in Egypt, and working with TotalEnergies to
accelerate our international expansion in Egypt and beyond”.

***

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as many people
as possible. Active in more than 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

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About ADNOC Distribution

ADNOC Distribution is the leading fuel distributor and convenience store
operator in the UAE.

ADNOC Distribution operates 464 retail fuel stations, 350 convenience stores
as of 31 March 2022 and is the leading marketer and distributor of fuels to
commercial, industrial and government customers throughout the UAE. ADNOC
Distribution is the only fuel retailer operating in all seven emirates in the
UAE, and in 2018 expanded its retail fuels operations internationally in the
Kingdom of Saudi Arabia where it operates 55 retail fuel stations as of 31
March 2022. To find out more, visit www.adnocdistribution.ae
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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).

TotalEnergies Contacts 

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPR 
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)



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