Reliance Industries (RIL) has completed the sale of its entire 76% stake in African fuel retailer Gulf Africa Petroleum Corp (Gapco) to Total SA of France for an undisclosed sum. Reliance Exploration & Production DMCC (REPDMCC), an indirect wholly owned subsidiary of RIL, TOTAL and GAPCO have obtained requisite regulatory approvals, consents and successfully completed the sale transaction. GAPCO is a holding company with operating subsidiaries in Tanzania, Kenya and Uganda, which are primarily engaged in petroleum product import, and trading, storage, distribution, marketing, supply and transportation of oil products in East Africa.
RIL is an India-based private sector company, with business in energy and materials value chain and in retail and digital services. The company operates in four segments: refining, petrochemicals, oil & gas and organized retail. The refining segment includes production and marketing operations of the petroleum products.
