TotalFinaElf announces that it has acquired 100% ownership of Selyak, a Turkish petroleum products marketing company, following the purchase of a 32% stake held by the Turkish Group Oyak and its subsidiary Mais.

This transaction, which remains subject to the approval of the Turkish authorities, will enable TotalFinaElf to proceed with the merger of the Group's two 100%-owned petroleum product marketing subsidiaries, Total Oil Turkiye and Selyak. In this way TotalFinaElf will control of a network of 500 service stations, representing 8% of the gasoil and lubricants market.

In addition, TotalFinaElf is active in the liquefied petroleum gas market through its wholly-owned subsidiary T’pgaz, which has a market share of 6%.

The acquisition is in line with TotalFinaElf's strategy of developing its refining and marketing activities in the Mediterranean basin.