US Markets
Home›US Markets›M&A & Deals›OLA Energy Group to buy TotalEnergies Marketing Ethiop…
OLA Energy Group to buy TotalEnergies Marketing Ethiopia with 120 stations
The deal covers TotalEnergies Marketing Ethiopia downstream operations, including 10 storage assets, digital payment solutions, and logistics infrastructure.
OLA Energy Group has signed a share purchase agreement to acquire TotalEnergies Marketing Ethiopia, adding more than 120 service stations to its pan-African network, including in Addis Ababa, Dire Dawa, and Mek'ele, according to Yahoo Finance.
The transaction is set to include the full downstream operations of TotalEnergies Marketing Ethiopia, a network of over 120 stations serving B2B, retail, aviation, and lubricant customers.
OLA Energy said the acquired network also includes 10 storage assets, digital payment solutions, and logistics infrastructure that are already in operation.
In a separate note on TotalEnergies SE, TD Cowen cut its price target for TotalEnergies to $102 from $106 on July 2 and kept a Buy rating as part of adjustments to oil majors price targets in a fiscal Q2 earnings preview, the outlet reported.