Total to Sell Retail Business in Haiti
Total revealed Wednesday that it 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.
The agreement has been finalized with Bandari Corporation Ltd., a consortium formed by several local and regional players.
In its decision to accept the bid, Total said it paid “special attention” to the ability and commitment of the buyer to grow the businesses and “protect the interests of employees”.
“This transaction with local operators is aligned with our strategy of streamlining our asset portfolio in the Caribbean,” Isabelle Gaildraud, Americas senior vice president at Total Marketing & Services, said in a company statement.
“We are fully confident that Bandari Corporation Ltd. will develop these quality assets effectively. We remain present in Haiti through a lubricants distribution agreement,” Gaildraud added.
Total Marketing & Services, which develops and distributes mainly petroleum-based products and all related services, employs around 31,000 people in 110 countries.
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