French oil and gas major Total has sold its gas business in Italy. Total Italia Gas. a subsidiary of its Italian joint venture TotalErg. to UGI Corp. an industry source said on Friday.
The sale is part of a move by the company to sells its assets in the Italian downstream retail market.
Total has said it plans to sell TotalErg. a joint venture with ERG that controls close to 2.600 service stations in Italy and has a market share of around 11 percent.
Total and UGI declined to comment.
Tags Europe France International International Companies International News Agency Market Market Share Reuters International News Agency Total S.A.
Check Also
Saudi Aramco Raises all Oil Prices for Asia
Saudi Aramco has raised the official selling price of all the grades it exports to …