In parallel with this agreement, Total is reinforcing its lubricants business in Italy by buying out
\nErg\u2019s 51% stake in the lubricants activities of the joint venture that will consequently be
\nterminated.<\/p>\n
Created in 2010 by merging the Total and Erg activities, TotalErg is the fourth-largest fuel
\nmarketer in Italy, a fragmented market where the profitability outlook was not in line with the
\nGroup\u2019s expectations despite the joint efforts of the two shareholders. The lubricants market,
\nhowever, does offer satisfactory growth perspectives and this consolidation is in line with the
\nGroup strategy in this business sector.<\/p>\n
\u201cThe successful monetization of these mature activities in a challenging market is another Total in Italy<\/strong><\/p>\n Total has been present in Italy for 60 years. The Group markets aviation and truck fuel, Total affiliates, Hutchinson in materials, Saft in batteries and SunPower in solar panels Total and Erg have signed an agreement[[Subject to the approval of the relevant authorities.]] with the Italian Group API to sell their fuel marketing and refining assets in the TotalErg joint venture (Erg 51%, Total
\nexample of our active portfolio management strategy in Marketing & Services. It also helps
\nreduce our refining capacity in Europe while taking advantage of a favorable market,\u201d<\/em> said
\nMomar Nguer, President, Marketing & Services. \u201cThe buyout from Erg of the lubricants activity
\nallows us to focus and expand this high-return business. In addition, we will maintain our
\npresence in the truck refueling business in Italy with our European network AS24, as well as
\nin aviation fuels.\u201d<\/em><\/p>\n
\nlubricants, additives, special fluids and related services. In addition, it operates the Tempa
\nRossa oil field, currently under development, and has interests in five other exploration blocks
\n(four of which it operates), all located in the same region of the southern Apennines.<\/p>\n
\ndistribute their products in the country.<\/p>\n","protected":false},"excerpt":{"rendered":"
\n49%). Following the divestment of the LPG and Commercial Sales businesses, this third transaction completes the sale of all TotalErg\u2019s assets, for a total amount of around \u20ac750 million.<\/p>\n","protected":false},"author":20,"featured_media":66711,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1601],"tags":[1671,1888,1437,2082,2035,1702],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/66713"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=66713"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/66713\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/66711"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=66713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=66713"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=66713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}