Omar_Bassiouny

MBH: ADNOC Distribution breaks into the Egyptian market  

Abu Dhabi National Oil Company for Distribution (“ADNOC Distribution”), the UAE’s largest fuel and retail distributor, has officially entered the Egyptian market after completing the acquisition of a 50% stake in TotalEnergies Marketing Egypt from TotalEnergies Marketing Afrique. This landmark transaction was first announced in July 2022 and is expected to uplift ADNOC Distribution’s EBITDA from year 1 post-closing by approximately 6% on a fully consolidated basis. 

TotalEnergies Marketing Egypt is a leading fuel retail operator in Egypt with a strong brand and a successful track record. The partnership between ADNOC Distribution and TotalEnergies Marketing Egypt includes a diversified downstream portfolio of 240 fuel retail stations, 100+ convenience stores, 250+ lube changing stations, and car washes, as well as wholesale fuel, aviation fuel, and lubricant operations. 

In addition to introducing the digitally enabled ADNOC service station offering to customers in Egypt, ADNOC Distribution plans to bring its signature Oasis convenience store to the market. The Oasis convenience store offers customers a wide range of products and services, including fresh food and beverages, snacks, and a wide range of household and personal care items. 

ADNOC Distribution’s expansion into Egypt is an important milestone in its international growth journey. The company opened its first service station outside the UAE borders in 2018 by expanding into Saudi Arabia where it currently operates 66 sites (as of 31 December 2022). Additionally, ADNOC Voyager continues to grow the company’s international footprint, with 25 countries where its lubricant products are marketed (as of 31 December 2022). 

Matouk Bassiouny & Hennawy (“MBH”) acted as legal advisor to ADNOC Distribution in connection to the share acquisiton. The MBH team was led by Omar S. Bassiouny (founding partner, group head of corporate and M&A, pictured), Mohamed Al Degwy (partner), Maha ElMeihy (counsel), Radwa Saleh (senior associate), Omar Khattab (senior associate), Salma Selim (associate), Saifallah Kadry (associate), Zahra Ashraf (associate), Moon Abdelazim (associate), and Mostafa Ali (junior associate). 

MBH: ADNOC Distribution breaks into the Egyptian market  

suzan.taha@lcpublishinggroup.it

legalcommunitymena.com

Launched in 2022 by LC Publishing Group S.p.A., it is the first digital portal addressed to the Middle East North Africa market.

In terms of contents, the website focuses on both law firms and in-house legal departments, covering the latest news and rumors on deals and operations (and the related advisors) as well as on lateral hires, moves and new appointmens and providing insights, analytical data and opinions on the professions’ main trends and topics (AI, innovation, etc.).

For further information, please visit the Group’s website www.lcpublishinggroup.com

Legalcommunity MENA
LC Publishing Group S.p.A. – Via Tolstoi 10 – 20146 Milano – Tel. 0236727659 – C.F./P.IVA 07619210961
REA 1971432 Registro delle Imprese di Milano – Cap. Soc. Euro 50.000,00 i.v.

Copyright 2023 © All rights Reserved. Design by Origami Creative Studio

SHARE

Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram