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TotalEnergies sells Brazilian fuel distribution business to SIM Distribuidora

French oil major TotalEnergies has agreed to sell a network of about 240 retail fuelling stations plus ethanol and oil products storage facilities in Brazil to a subsidiary of Grupo Argentina, the company said on Friday. TotalEnergies will keep its lubricants blending and distribution activities in Brazil, it said. SIM Distribuidora, the purchaser, has more than 500 service stations, plus lubricants and aviation fuel distribution activities.

By America Hernandez PARIS - French oil major TotalEnergies has agreed to sell a network of about 240 retail fuelling stations plus ethanol and oil products storage facilities in Brazil to a subsidiary of Grupo Argentina, the company said on Friday. The amount of the transaction was not announced. TotalEnergies will keep its lubricants blending and distribution activities in Brazil, it said.

SIM Distribuidora, the purchaser, has more than 500 service stations, plus lubricants and aviation fuel distribution activities. In January Total sold its German and Dutch fuel stations, plus a 60% take in its stations in Belgium and Luxembourg to Alimentation Couche-Tard for about 3.4 billion euros.

The French company has said it plans to slim down its retail network holdings, concentrating holdings in places where it has a large market share. (Reporting by America Hernandez in Paris; editing by David Evans).