Adnoc Distribution completes acquistion of 50% stake in TotalEnergies Marketing Egypt

Adnoc Distribution completes acquistion of 50% stake in TotalEnergies Marketing Egypt

The UAE’s largest fuel and retail distributor officially enters into the Egyptian market

Adnoc Distribution’s expansion into Egypt is the latest achievement in its international growth journey.. — Supplied photo

Published: Wed 15 Feb 2023, 3:07 PM

Adnoc Distribution announced on Wednesday that it has completed its acquisition from TotalEnergies Marketing Afrique of a 50 per cent stake in TotalEnergies Marketing Egypt.

The closing of this landmark transaction, which was first announced in July 2022, marks the official entry of the UAE’s largest fuel and retail distributor into the Egyptian market.

The acquisition is expected to uplift Adnoc Distribution's earnings before interest, taxes, depreciation and amortisation (EBITDA) from year one post-closing (c.+6 per cent on a fully-consolidated basis).

TotalEnergies Marketing Egypt is among the leading fuel retail operators in Egypt. With a strong brand and a successful track record, this acquisition is an important milestone in Adnoc Distribution’s international growth journey.

The partnership includes a diversified downstream portfolio of 240 fuel retail stations, 100+ convenience stores, 250+ lube changing stations, and car washes, as well as wholesale fuel, aviation fuel, and lubricant operations.

In addition to introducing the digitally-enabled Adnoc service station offering to customers in Egypt, Adnoc Distribution also plans to bring its signature Oasis convenience store