RUBIS' TAKES FULL CONTROL OF DELTA RUBIS PETROL IN TURKEY
(Thomson Reuters ONE) -
January 6, 2017
According to a Share Purchase Agreement signed this day, Rubis' will purchase
50% of Delta Rubis Petrol to its partners to end up with full control of the
company.
The acquisition will be completed once getting the approval from the local
competition Authority.
Current partnership was founded in January 2012 to develop this 650 000 cbm fuel
storage facility located in Ceyhan, on the southeast coast of Turkey.
Eventually, the ownership control will provide Rubis' with full autonomy to
combine management and operational leverage including the construction of an
additional 120 000 cbm storage capacity aiming at optimising large vessels
loading from the new jetty facility.
In 2016, Delta Rubis Petrol has generated rental revenues of $31 million for an
estimated EBITDA of $20 million.
Upcoming events:
Q4 2016 revenue: February 9, 2017 (Market closing)
Press Contact Analysts Contact
PUBLICIS CONSULTANTS - Aurélie Gabrieli RUBIS - Bruno Krief
Tel: +33 (0) 1 4482 4833 Tel: +33 (0) 1 4417 9595
Download:
http://hugin.info/143569/R/2069274/777346.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: RUBIS via GlobeNewswire
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