Volume 3, issue #24 - 13-10-1998

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Total now owns 90 % Total Fina Gabon

Aug. 13, 1998 French group Total said it had bought a 36 % stake in Gabonese petrol retailer Total Fina Gabon from Petrofina for an undisclosed sum.
Total now owns 90 % of Total Fina Gabon, with the Gabonese state owning the rest.
Total Fina Gabon distributes around 90,000 tonnes of petroleum products per year and has a network of 19 service stations.
Total has also bought Petrofina's stake in 2 other companies in the oil sector, refinery SOGARA, in which its interest now stands at 22 %, and delivery company SGEPP, in which its stake rises to 18.7 %.
The exact size of the stakes bought in each of these 2 companies was not revealed.