Total finalises Gapco acquisition

France’s Total has finalised its acquisition of Gulf Africa Petroleum’s East Africa assets.
By Staff reporter 31 March 2017 0 25309

France’s Total has finalised its acquisition of Gulf Africa Petroleum’s East Africa assets.

The sale includes logistics terminals in Kenya and Tanzania as well as fuel distribution networks in Uganda. The deal is intended to create greater synergy between markets in East Africa, boosting Total’s presence in the region.

The deal is estimated to be worth around $400 million, but an exact figure has not been disclosed. Total is already active in the upstream oil sector in Tanzania and Uganda.

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