Economy & BusinessThe Moroccan group Afriquia acquires TotalEnergies in Mauritania

The Moroccan group Afriquia acquires TotalEnergies in Mauritania

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Afriquia absorbed the Mauritanian subsidiary of TotalEnergies, after the Moroccan group’s offer was accepted. The signing of the acquisition is expected “next week, for an amount of around 185 million dollars”, revealed Financial Afrik, citing a concordant source within TotalEnergies.

The employees were informed that the process “is part of the new energy policy of the country which is looking for strong partners”, according to another local source, quoted by the media. Since the signing of the agreement in principle for the acquisition, “the company in Nouakchott has started to transfer skills to Afriquia”, we add.

The handover is expected to take “several weeks”. TotalEnergies has been operating in Mauritania in the field of oil and gas exploration and production since 1999. It has forty sales outlets across the country.

The Moroccan Blog
The Moroccan Blog
The Moroccan Blog is an English based newsblog dedicated to Morocco. You can find here all news from Morocco across a variety of topics: Arts & Culture, Economy & Business, Lifestyle, Moroccan Sahara, MRE, Society, Tourism & Travel and more.

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