TRIPOLI, June 30 (Xinhua) -- Libya's OLA Energy Holdings Ltd. has signed an agreement to acquire the assets of TotalEnergies in Ethiopia, according to a statement issued Tuesday by the Tripoli-based Government of National Unity on its official platform.
Under the agreement, OLA Energy will acquire about 120 fuel service stations, a fuel storage depot with a capacity of 13,000 cubic meters, as well as related operational and commercial activities.
According to the statement, the deal is part of the company's strategy to expand its presence in African markets and foster broader economic cooperation across the continent.
OLA Energy Holdings Ltd., formerly known as Oil Libya Holdings Ltd., is a pan-African energy company owned by Libyan investment institutions.
