RUBIS : ACQUISITION OF BERMUDA GAS - ACQUISITION OF ADDITIONAL 25% OF ERES/ASCA
(Thomson Reuters ONE) -
Bermuda Gas
Rubis has entered into a binding agreement to acquire Bermuda Gas & Utility
Company Ltd from the Ascendant Group Limited, the parent company of Bermuda
Electric Light Company Limited (BELCO) which is Bermuda's sole supplier of
electricity. The consideration amounts USD 17.7 million plus final adjustments
to reflect the working capital in the business on completion.
Bermuda Gas is the main LPG retailer in Bermuda, with 5 000 tons of cylinders
and bulk distribution annually across the Island. Due to its unique import and
storage infrastructure on the Island, Rubis was the former LPG supplier of
Bermuda Gas.
By integrating the whole LPG distribution chain, this acquisition represents a
strong add-on to Rubis' existing position in this line of product.
Rubis is already a leading operator in fuel distribution in Bermuda, including
retail, marine, commercial and lubricants representing an annual volume of
50 000 cbm.
Eres/Asca
Rubis has completed the purchase of the remaining 25% of the Eres/Asca Group,
following its acquisition of an initial 75% controlling stake in June 2015. Full
ownership of the group will strengthen Rubis' position and help accelerate its
bitumen development strategy in a sector enjoying promising outlook.
Eres/Asca Group is a leading specialist covering the whole chain of supply,
trading, shipping and retail distribution of bitumen mainly in Western Africa.
Upcoming events:
First-quarter 2016 revenue: May 10, 2016 (after market closing)
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Press Contact Analysts Contact
PUBLICIS CONSULTANTS - Aurélie Gabrieli RUBIS - Bruno Krief
Tel: +33 (0)1 4482 4833 Tel: +33 (0)1 4417 9595
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[HUG#2003115]
Unternehmensinformation / Kurzprofil:
Datum: 13.04.2016 - 18:00 Uhr
Sprache: Deutsch
News-ID 463829
Anzahl Zeichen: 2805
contact information:
Town:
PARIS
Kategorie:
Business News
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