May 10, 2018 / 6:47 AM / 2 years ago

France's Total to take 25 percent stake in Clean Energy Fuels Corp

PARIS, May 10 (Reuters) - French oil and gas major Total said on Thursday that it has agreed to buy up to 50.8 million shares of Clean Energy Corp’s common stock for $83.4 million, to become its largest stockholder with a 25 percent stake.

Total said the two companies have entered into a broad strategic agreement to drive deployment of new natural gas heavy-duty trucks in the North American market.

It added that Total will provide a $100 million credit support for Clean Energy’s plan to launch an innovative leasing programme to place thousands of new natural gas heavy-duty trucks on the road and fuelling at Clean Energy stations. (Reporting by Bate Felix; Editing by Adrian Croft)

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