The French petroleum giant, which has been involved in market petroleum products and related services in Liberia, has reportedly been sold to the Liberian-owned Conex.
Total arrived on the scene in 2005 after the election of former President Ellen Johnson-Sirleaf and boasts more than 30 filling stations across the country.
Conex will take over within six months and will keep the Total insignia for Two years.
Conex Group J.V. Ltd is a 100% Liberian owned investment holding company that was established in 2005. The company provides capital resources, support and highly skilled and talented management teams in the investees’ companies. Conex Group J.V. Ltd is the holding company for a group of companies operating in the Western Sub Region of Africa (Liberia, Sierra Leone, Guinea, Ghana, etc.)
Mr. Cherif M. Abdallah, who serves as Chairman and CEO of the Conex Group, confirmed the purchase to FrontPageAfrica Wednesday and said that an official statement will be coming out later today.
This news was Culled from Frontpage Africa. Click here to view more.
