Total completed the acquisition of Saft Group for €950m.

Total, an energy producer and provider, a leading international oil and gas company, completed the acquisition of Saft Group, a designer and manufacturer of advanced technology batteries, for €950m. “The combination of Saft and Total will enable Saft to become the Group’s spearhead in electricity storage. The acquisition of Saft is part of Total’s ambition to accelerate its development in the fields of renewable energy and electricity, initiated in 2011 with the acquisition of SunPower. Saft’s renowned technological know-how and unique expertise have allowed it to develop innovative and competitive solutions for its clients. It will notably allow us to complement our portfolio with electricity storage solutions, a key component of the future growth of renewable energy. This transaction will also enable Saft, its management and employees to benefit from Total’s technical, industrial, commercial and financial support. In addition, this transaction will enable Saft to successfully accelerate its development," Patrick Pouyanné, Total Chairman and CEO.