TotalEnergies announced that it has received 3.4 billion euros in cash from the sale of its gas station network in Germany, the Netherlands, Belgium, and Luxembourg to the Canadian group Couche Tard.
In Germany and the Netherlands, the French oil giant stated in a press release that it is transferring its entire network to Couche Tard.
In Belgium and Luxembourg, the two companies have formed a partnership, with the Canadian company holding 60%, and TotalEnergies holding the remaining 40%.
TotalEnergies specified that it will continue to supply all these gas stations for at least five years from its refineries in Antwerp, Belgium, and Leuna, Germany.
When announcing the operation in March, it explained that it was divesting the 1,198 service stations in Germany and the 392 in the Netherlands because it was not a leader in those markets.
As for Belgium and Luxembourg, where it was the "number one," its partnership with Couche Tard, according to the goal set then, is to "accelerate the transformation of these networks by maximizing their sales margin on petroleum fuels."