Companies & Finance

Total completes acquisition of Direct Energie

French major Total has completed its acquisition of a 73% stake in French power and gas utility Direct Energie
By Staff reporter 9 July 2018 0 31650

French major Total has completed its acquisition of a 73% stake in French power and gas utility Direct Energie, Total announced on Friday.

The deal, which is worth €1.4 billion ($1.65 billion), was first announced in April. Total will buy Direct Energie’s shares for €42 each.

“This operation allows us to accelerate our integration downstream along the full gas and power value chain and to reach critical mass in the French and Belgium markets, where we are growing fast,” Patrick Pouyanné, Total’s chairman and...