BAKU, Azerbaijan, October 19. TotalEnergies has entered into an agreement to sell its fuel distribution operations in Brazil to SIM Distribuidora, a key player in the Brazilian fuel market, Trend reports.
The transaction covers a network of approximately 240 filling stations, along with several storage facilities for petroleum products and ethanol.
SIM Distribuidora, part of Grupo Argenta, is well-established in Brazil's fuel distribution sector, managing over 500 service stations and operating in the lubricants and aviation sectors.
This move aligns with TotalEnergies’ focus on optimizing its retail network by concentrating on core markets where it holds significant market shares. Despite the sale, the company will retain its lubricants blending and distribution activities in Brazil.
The deal is pending approval from the relevant regulatory authorities.