BP sells southern African marketing operations

15th November 2010, Comments 0 comments

British energy company BP on Monday said it had agreed to sell group refining and marketing operations in southern Africa for 296 million dollars (217 million euros) to Switzerland-based Puma Energy.

"Puma Energy has agreed to pay BP a total of 296 million dollars in cash, subject to certain post-completion price adjustments, for all of BP's interests in" Botswana, Malawi, Namibia, Tanzania and Zambia, according to a statement.

"The decision to divest these businesses, which was first announced by BP in March 2010, followed a strategic review of BP's southern African refining and marketing businesses.

"The sales do not include BP's refining and marketing businesses in Mozambique or South Africa," the statement added.

© 2010 AFP

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