TotalFinaElf is pursuing its European strategy of focusing on expanding markets in which it holds a significant market share.

In Switzerland, TotalFinaElf currently operates 165 service stations under the Elf brand and 12 under the POCO brand, representing less than 3% of the market. TotalFinaElf has decided to sell these service stations and has signed an agreement for sale to that effect with Geneva-based Tamoil. Once the transaction has been completed, Tamoil, which generates sales of approximately 2.2 billion Swiss francs and owns a refinery in Collombey, will operate a network of 431 service stations in Switzerland.

The sale is subject to approval by Swiss antitrust authorities.

The disposal of the service stations will not affect TotalFinaElf's other local operations, which include the marketing of LPG, fuel oil, lubricants, bitumen, aviation fuel, solvents and paraffin. The development of these businesses has made the Group a major player in these markets in Switzerland.