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PARIS - French energy giant TotalEnergies (PARIS:TTE) (NYSE:TTE) has agreed to sell its sustainability consultancy affiliate GreenFlex to independent French consulting and engineering group Oteis, according to a press release statement issued by the company.
The divestment aligns with TotalEnergies’ strategy to concentrate on its core activities of energy production and supply. Financial terms of the transaction were not disclosed.
Oteis, which employs over 800 people across approximately thirty agencies in France and Europe, plans to leverage GreenFlex’s expertise in environmental consultancy, low-carbon energy performance, and transition financing to create a more comprehensive service offering.
For GreenFlex, the acquisition represents an opportunity to expand into new markets while continuing its work helping businesses and regions improve sustainability, decarbonize operations, and enhance energy efficiency.
Following the divestment, TotalEnergies will become a major customer of GreenFlex, signing a contract for the production of French Energy Saving Certificates.
The transaction remains subject to standard conditions, including employee representative consultation and competition authority approval.
Oteis currently operates in several sectors including construction, water and development, infrastructure, and industry. The company has demonstrated strong growth in recent years through similar acquisitions and team integrations.
TotalEnergies, active in approximately 120 countries with more than 100,000 employees, produces and markets various energy sources including oil, biofuels, natural gas, biogas, hydrogen, renewables, and electricity.
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