ERG sells shareholding in TotalErg

ERG completes its industrial transformation process and strengthens financial capacity for further growth in renewables.

Genoa, 3 November 2017 - ERG S.p.A. and Total Marketing Services S.A. have today signed a binding agreement with the api Group for the sale of a 100% equity interest in TotalErg S.p.A., a company operating in oil product distribution and refining. The transaction perimeter includes approximately 2,600 retail service stations, the Rome logistic hub and 25.16% of the Trecate refinery.

The transaction, for which the closing is scheduled to take place by 31 January 2018, is subject to approval by the Antitrust and completion of the spin-off of the TotalErg S.p.A. business unit operating in the lubricant sector in favour of Total Italia S.r.l.. Regarding the latter ERG S.p.A. and Total Marketing Services S.A. have, again today, signed a binding agreement providing for Erg S.p.A.'s sale to the Total group of its (51%) stake in the said company. We also mention that, on 10 August 2017, TotalErg S.p.A. already finalised the sale to the Ambienta sgr S.p.A. fund and to Aber S.r.l. of its subsidiary Restiani S.p.A., which operates in the heating services sector, and on 5 October 2017, the sale to UGI Italia S.r.l. of its subsidiary Totalgaz Italia S.r.l. , a company operating in the LPG distribution business.