The permanent commission of the Bénin Council of Competition convened on December 12, 2022, to grant its formal approval for Akwa Africa S.A. to assume exclusive control over Total Mauritanie S.A. This landmark decision involves the acquisition of 100% of the company’s share capital and voting rights, as outlined in the most recent edition of the Official Bulletin.
Earlier, on November 3, 2022, the Council had been officially notified of this economic concentration initiative. Financial estimates, as reported by Financial Afrik, suggest the transaction’s total value hovers around $185 million.
Akwa Africa S.A. stands as a Moroccan investment firm specializing in strategic stakes within Sub-Saharan African enterprises focused on fuel importation, storage, trade, and distribution, alongside LPG (liquefied petroleum gas) logistics. Meanwhile, Total Mauritanie S.A.—a Mauritania-based subsidiary of TotalEnergies Marketing Afrique—operates across the entire downstream petroleum sector.
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