PORT AU PRINCE, Haiti (CMC) — The French based oil company, TOTAL, today announced that it has signed an agreement to sell its retail business in Haiti.
It did not disclose the total cost for the agreement, but TOTAL has a network of 92 service stations and general trade fuel sales operations.
It said the agreement has been finalised with Bandari Corporation Ltd, a consortium formed by several local and regional major players.
“This transaction with local operators is aligned with our strategy of streamlining our asset portfolio in the Caribbean,” said 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,” she added.