Mergers & Acquisitions

Total agrees to sell its fuel retail business in Haiti to Bandari

Total agrees to sell its fuel retail business in Haiti to Bandari
Photo courtesy of Total.

Total has signed an agreement to sell its retail business in Haiti, which consists of a network of 92 service stations and general trade fuel sales operations. This agreement has been finalized with Bandari Corporation Ltd., a consortium formed by several local and regional major players.

“This transaction with local operators is aligned with our strategy of streamlining our asset portfolio in the Caribbean,” said Isabelle Gaildraud, senior vice president, Americas at Total Marketing & Services.

“We are fully confident that Bandari Corporation Ltd. will develop these quality assets effectively. We remain present in Haiti through a lubricants distribution agreement.”

France’s Total is the world’s fourth-largest oil and gas company and the No. 1 distributor of petroleum products in Africa. Total Marketing & Services develops and distributes mainly petroleum-based products and all related services. Its 31,000 employees are present in 110 countries and its product and service offerings are sold in 150 countries. Total Marketing & Services also operates 50 production sites worldwide, manufacturing lubricants, bitumen, fuel additives, fuels and special fluids.

In its decision to accept the bid, Total paid special attention to the ability and commitment of the buyer to grow the businesses and protect the interests of employees, the company said in a statement.

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