Total agrees to buy battery maker Saft

• Total (NYSE:TOT) has agreed to buy Saft Groupe (OTC:SGPEY) for €36.50 a share, valuing the battery manufacturer's equity at €950M.
• "The combination will enable Saft to become the group's spearhead in electricity storage," Total Chief Executive Patrick Pouyanne said.
• Last month, Total announced the creation of a new division to help drive its ambition to become a top renewables and electricity trading player within twenty years.