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Total sold to Rontec Investments

Total has been sold to a consortium of investors.

The energy giant, which has a significant business in the Isle of Man, has sold 810 forecourt sites and its oil distribution business to Rontec Investments.

The deal includes Total Isle of Man.

Rontec is led by Snax 24, a United Kingdom forecourt operator, and will pay £350 million for the assets, although it is to sell 254 forecourt sites to Shell UK for £240 million.

Both agreements are subject to regulatory approval, and Total says it hopes to complete the deal by the end of 2011.

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