Haiti: Total Sells Its Retail Business

Haiti: Total Sells Its Retail Business

The FINANCIAL -- Total has signed an agreement to sell its retail business in Haiti, which consists of a network of 92 service stations and general trade fuel sales operations.

This agreement has been finalized with Bandari Corporation Ltd., a consortium formed by several local and regional major players, according to Total.

“This transaction with local operators is aligned with our strategy of streamlining our asset portfolio in the Caribbean,” commented Isabelle Gaildraud, Senior Vice President, Americas at Total Marketing & Services. “We are fully confident that Bandari Corporation Ltd. will develop these quality assets effectively. We remain present in Haiti through a lubricants distribution agreement.”

In its decision to accept the bid, Total paid special attention to the ability and commitment of the buyer to grow the businesses and protect the interests of employees.