B Investments Holdings sells 6.3% of share in Total for $27.6mln

B Investment Holding sold its entire shares of 6.3 percent at TotalEnergies Marketing Egypt (TE) to TotalEnergies Marketing Afrique SAS (TEMA) for $27.6 million, according to its statement on Monday.

B Investment will be eligible for another $2.2 million subject to certain conditions related to TEMA deal with Abu Dhabi National Oil Company (ANOC), the company said in EGX disclosure.

Noteworthy, that B Investments has achieved net profit of 60.46 Egyptian pound million ($1.990 million) within the first half of the past year, compared to 72.51 million pounds within the first half of the 2021.

The company’s revenues declined within the first six months of the last year reaching 59.56 million pounds, compared to 89.93 million pounds in the same period in 2021.