BPE Partners okays US$30 mln offer for remaining stakes in TotalEnergies Marketing Egypt

B Investments, the Egyptian subsidiary of French private equity firm BPE Partners, has accepted a close of up to US$30 million to sell its remaining 6.4% stake in TotalEnergies Marketing Egypt. The buyer is TotalEnergies Marketing Afrique SAS (TEMA), French energy group Total's holding company in charge of African operations.  The agreed offer specifically includes US$27.65 million in total consideration and US$2.2 million of additional payment subject to "certain milestones concerning TEMA’s transaction with Abu Dhabi National Oil Company for Distribution."

“We are very pleased to have established a decade-long successful relationship with one of the leading global energy players to create one of the largest private sector oil & gas companies in Egypt. Achieving another successful exit further demonstrates our ability to create significant value in our portfolio companies and ultimately, for our shareholders,” said Mr. Hazem Barakat, Co-Founder & Chairman of B Investments.