Total: sells stake in pipeline network
(CercleFinance.com) - On Monday Total has announced the sale of a 30% stake in the Trapil pipeline network to the independent oil stockist Pisto for around 260 million euros.
The energy giant says that the transaction reflects its active portfolio management, rather than "own infrastructure assets".
Trapil currently has 1,375 km of pipe at in Europe, as well as 28 pumping stations and 27 delivery terminals.
Following the transaction, Total will remain a minority shareholder, with a 5.55% stake in the pipeline system, whose infrastructure it will continue to use.
Before the agreement, Pisto was already the main shareholder of Trapil, with a 44% stake.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The energy giant says that the transaction reflects its active portfolio management, rather than "own infrastructure assets".
Trapil currently has 1,375 km of pipe at in Europe, as well as 28 pumping stations and 27 delivery terminals.
Following the transaction, Total will remain a minority shareholder, with a 5.55% stake in the pipeline system, whose infrastructure it will continue to use.
Before the agreement, Pisto was already the main shareholder of Trapil, with a 44% stake.
Copyright (c) 2019 CercleFinance.com. All rights reserved.