September 22, 2017 / 5:16 PM / a year ago

France's Total sells its Italian gas business to UGI - source

PARIS, Sept 22 (Reuters) - French oil and gas major Total has sold its gas business in Italy, Total Italia Gas, a subsidiary of its Italian joint venture TotalErg, to UGI Corp , an industry source said on Friday.

The sale is part of a move by the company to sells its assets in the Italian downstream retail market.

Total has said it plans to sell TotalErg, a joint venture with ERG that controls close to 2,600 service stations in Italy and has a market share of around 11 percent.

Total and UGI declined to comment. (Reporting by Bate Felix; Editing by Luke Baker and Mark Potter)

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