Moroccan Energy Giant Afriquia Gaz to Acquire TotalEnergies’ Mauritanian Operations for $185 Million
Afriquia Gaz, the Moroccan leader in the distribution of liquefied petroleum gas, butane and propane, is pursuing its expansion policy. The group is preparing to acquire the Mauritanian subsidiary of the French energy group TotalEnergies.
During a meeting, the regional director of TotalEnergy informed employees that the company is in the process of transferring skills to the Moroccan group Afriquia Gaz, according to the Mauritanian press agency. This operation should last several weeks.
A consistent source within TotalEnergies has confirmed to Financial Afrik that the Moroccan group’s offer has been accepted and that "the signing of the acquisition would take place next week for an amount close to $185 million."
Present in Mauritania since 1999, TotalEnergies operates in the field of oil and gas exploration and production and owns 40 service stations providing the distribution of petroleum products throughout the country.
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