Brazil: TotalEnergies sells its fuel distribution activities to SIM Distribuidora
TotalEnergies has signed an agreement to sell its fuel distribution activities in Brazil to SIM Distribuidora, a Brazilian company.
The transaction involves a network of about 240 filling stations and several storage facilities for petroleum products and ethanol.
SIM Distribuidora, one of the recognized players of the fuel distribution business in Brazil, belongs to Grupo Argenta, which has more than 500 service stations, lubricants and aviation activities.
This sale reflects the selective strategy of TotalEnergies in marketing and services in the retail network business focused on core geographies with significant market share positions. The company will retain its lubricants blending and distribution activities in Brazil.
The acquisition remains subject to authorization by the relevant authorities.
Comments