Turkish energy company Ipragaz, a subsidiary of Netherlands-based SHV Energy, applied to the competition authority to acquire 100 percent shares of French Total's Turkish gas subsidiary, Butengaz, according to an official announcement of the Turkish Competition Authority late on Tuesday.
The companies revealed no financial information for the total value of the acquisition.
SHV Energy is a family-owned multinational organization that consists of a group of specialized energy companies. It is the largest LPG distributor worldwide, and has more than 30 million customers in 28 countries.
Ipragaz is a leader in the LPG sector in Turkey with over 50 years of experience. The company employs approx. 1,200. According to Ipragaz, it has 10 cylinder sales directorates, three cylinder field offices, 13 bulk and autogas sales directorates, six bulk and autogas sales offices, 15 LPG filling plants, three LPG storage terminals and eight storage sites throughout Turkey, supplying over 3,000 Turkish dealers.
Ipragaz also provides LNG (liquefied natural gas) since 2004.
By Murat Temizer
Anadolu Agency
energy@aa.com.tr