Jul 01 - ENI Sells 40 Service Stations To TotalFinaElf

Source Press Release
Company ENI S.p.A. 
Tags Refining & Marketing Activities, Strategy - Downstream
Date July 13, 2001

Eni has finalized an agreement with TotalFinaElf for the sale of 40 Agip and IP highway service stations in Italy.

Eni has also agreed to buy 74 service stations in the south east of France from TotalFinaElf.

The purchase of these plants, that account for a total throughput of more than 200 million liters a year, follows the acquisition of 21 highway service stations last February.

This consolidates AgipPetroli's activities in the French fuel distribution market, doubling its market share in the south east of the country, from 4% to 8%.

With the sale of 260 service stations trading with the Agip and IP brands in Italy since the beginning of 2001, Eni confirms its objective to reposition its market shares in the distribution network in Italy and abroad and to rebalance its industrial and commercial presence in Italy.

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