B Investments has started preliminary negotiations regarding selling 20% of its share in Total Egypt, according to a statement sent to the Egyptian Exchange (EGX).

Per the statement, the company currently owns 7.97% of Total Egypt. Total Egypt is considered to be one of the French company’s largest subsidiaries outside Europe, in addition to being the second-largest private downstream operator in Egypt. B Investments and its affiliates work with Total Egypt in various areas of retail service stations, lubricants, commercial and industrial operations, aviation, and logistics.