Cairo – Mubasher: B Investments Holdings has signed an agreement to sell 20% of its stake in Total Egypt to the French multinational integrated oil and gas company Total SA for a value of EGP 146.4 million.

Upon completion of the transaction, the ownership of B Investments Holdings in Total Egypt will decrease to 6.38% from 7.98%, the company said in a bourse disclosure on Sunday.

During the first nine months of 2020, B Investments Holding achieved net profits of EGP 153.55 million, up from EGP 142.74 million in the year-ago period, including minority shareholders’ rights.