BP sells off regional marketing operations

2010-11-15 10:20

London -  British energy company BP on Monday said it had agreed to sell group refining and marketing operations in southern Africa for $296m to Switzerland-based Puma Energy.

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

"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," it said.