Italy: TotalErg sale receives four bids
Total and energy company Erg have received four bids for their joint Italian gas station business, reports Reuters.
The sale of TotalErg, a company that operates almost 2,600 gas stations in Italy with an 11% market share, has attracted a total of four bids, including Italian refiner API Anonima Petroli.
According to the sources accessed by Reuters, bidders have made several inquiries as it is still unclear if the sale of the company will be done as a single block or if it will be broken up.
If API were to acquire TotalErg it would form Italy´s biggest fuel retailer with a total of 5,200 gas stations, overlapping Eni and Kuwait Petroleum.
