TOT TOTAL SE

By William Horobin

PARIS--French oil company Total SA (TOT) said Tuesday it is selling its Turkish retail network assets to Demiroren for 325 million euros ($499 million).

Total is selling the assets after concluding it would be difficult to get a large enough market share to bolster profitability.

"The transaction is yet another illustration of the group's strategy of actively managing our asset portfolio," said Philippe Boisseau, Total's president of marketing and services.

Demiroren is a Turkish conglomerate with operations in manufacturing, construction, tourism, education and the media.

Write to William Horobin at william.horobin@wsj.com

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(END) Dow Jones Newswires

September 01, 2015 10:07 ET (14:07 GMT)

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