Total ‘eyes $1bn TotalGaz sale’

FRANCE TOTAL UTS ENERGY07 March 2014, News Wires – French supermajor Total is looking to offload a liquefied petroleum gas (LPG) marketing unit for around $100 million, according to a report.

The Paris-headquartered player has engaged a pair of banks to look for buyers for TotalGaz, French newspaper Les Echos reported on Friday.

The company has set its sights on getting €700 million ($1.04 billion) from the sale, with the sales process set to kick off next month, the newspaper reported, citing unidentified sources close to the process.

TotalGaz employs about 500 staff in France and, as well as LPG, is involved in the distribution of butane and propane.


– Upstream

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