Total Acquires Rival Shell's Egyptian Gas Retail Network

Law360, Los Angeles (May 15, 2013, 6:19 PM EDT) -- Total SA has purchased rival Royal Dutch Shell PLC's fuel retail network in Egypt in a deal that bolsters Total's efforts to ramp up exploration and production operations in Africa, Shell announced Wednesday.

Details of the sale, including the price for which Total acquired the fuel network, are confidential, according to Shell. The deal is not expected to be completed for several months, the company said.

"The sale is consistent with Shell’s strategy to concentrate its global downstream businesses where it can be most competitive," Shell...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.