Total Acquires Local LPG Firm
Total last week announced its acquisition of the local liquefied petroleum gas (LPG) trader Dai Viet Energy Co. Ltd., thus strengthening its position in the local LPG market.
The local company operates an LPG distribution network in the southern area under the brand Vinagas as well as three LPG filling facilities in HCMC, Vinh Long and Daklak provinces. However, the value of this deal was not disclosed.
Total is a strong player in the LPG market, with a market share of above 10% nationwide, especially in HCMC and the Mekong Delta where it operates seven filling plants. The company markets in Vietnam such LPG brands as Totalgaz, Elf Gaz, Saigon Gas and now Vinagas.
(Source: Business Times)