Total Cracks Deeper Into Egypt With Chevron Asset Buy

Law360, New York (August 27, 2013, 1:13 PM EDT) -- Total SA is teaming up with a private equity partner to swallow the Egyptian retail and aviation operations of rival Chevron Corp., a move that will spawn the French energy giant's biggest subsidiary outside its home European market, it said Tuesday.

Under the deal's terms, Total and Cairo-based Beltone Private Equity agreed to absorb 66 service stations, a pair of oil depots and aviation fuel operations at airports in Cairo and Marsa Alam. The businesses trading hands in the transaction carry an annual sales volume of...
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