On July 28, ADNOC Distribution, a subsidiary of the state oil giant Abu Dhabi National Oil Company, ADNOC, concluded an agreement to acquire 50% of the activities of Total Energy Egypt, in a deal valued at more than $203 million, including fuel station activities. Retail, wholesale and aviation fuel in Egypt.
Three days later, “B Investments” announced that TEMA had entered into an agreement to sell 50% of the shares of “Total Energy Egypt” to ADNOC Distribution, distributed by 34.62% of the shares from TEMA, in addition to the share of “B Investments” of 6.28%, in addition to 9% from other shareholders.
B Investments Holding was founded in late 2005, and its shares were listed on the Egyptian Stock Exchange in July 2015, with a market capitalization of about EGP 2.16 billion. The main activity of the company is to invest in corporate capital. across multiple sectors, such as oil and gas, real estate development, information technology, non-bank financial services, renewable energy, and food processing.