The new company will reportedly have a market share of almost 11%, a network of 300 service stations and a strengthened position in specialties, including lubricants, bitumen, aviation fuel and liquefied petroleum gas.
The service stations will be co-branded as Cepsa-Total, while lubricants will be marketed under the Total, Cepsa and Elf brands. Cepsa will manage the new entity. Total has been a Cepsa shareholder since 1990 and holds a 48.83% interest in the company.
