TotalEnergies Acquires 49% Stake in Gabonese Forestry Company
15 Juin 2022 - 9:14AM
Dow Jones News
By Maitane Sardon
TotalEnergies SE said Wednesday that it has acquired a 49% stake
in Gabonese forestry company Compagnie des Bois du Gabon.
The French energy company said it has bought the stake from
Criterion Africa Partners, a private equity firm that invests in
the forestry value chain in sub-Saharan Africa.
Compagnie des Bois du Gabon manages 600,000 hectares of forest
certified under the Forest Stewardship Council certification
scheme, TotalEnergies said.
The company applies a forestry model that makes it possible to
balance the harvesting and local processing of sustainable wood
with the production of the related carbon credits, it said.
"Gabonese forestry... is a key economic sector for the country,
and we will help develop its carbon sequestration capacity in
compliance with the highest international standards," said Nicolas
Terraz, president of exploration and production at
TotalEnergies.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
June 15, 2022 02:59 ET (06:59 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
TotalEnergies (EU:TTE)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
TotalEnergies (EU:TTE)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024
