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Total buys large Saigon Gas stake
Mekong Enterprises Fund, belonging to Mekong Capital, completed the sale of its stakes in Saigon Gas Holdings Corp to UK liquefied petroleum gas (LPG)’s supplier Total on Dec. 11.
Although the fund has not released the number of stakes and the price of the sale, it revealed that the fund sold all its stakes in Saigon Gas to Total.
As part of the acquisition, Total will add an additional 20 distributors to its network and gain import facilities.
The new partner will also be able to optimise the supply chain through various operational synergies, enhancing services to its customers.
“The acquisition will secure Total’s position as one of the leading LPG suppliers in Vietnam , with an increase in the gas market share to approximately 15 percent,” said Thierry Pflimlin, senior vice-president of Total Oil Asia-Pacific.
Total has been in Vietnam since the end of 1970s and has engaged in exploration and production activities in the southern region. The company focuses its businesses in retail, lubricant and LPG.
vna
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