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Total: sells businesses in Italy.

(CercleFinance.com) - On Friday evening, Total reported that it has concluded an agreement with the Italian company API for the distribution of fuels and refining assets held by their joint venture TotalErg (in which Total has a 49% stake).

After the disposals of the LNG and general trade business over the past few months, this third transaction finalises the sale of all TotalErg's assets for a total of about 750 million euros, the French oil giant said.

In addition to this agreement, Total is also strengthening its presence in the lubricants sector in Italy, having bought the 51% held by Erg in this business within the aforementioned joint venture, which will thus be terminated.

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