acquisition Of SHELL GROUP’s LPG SUBSIDIARIES IN europe
On 21 March 2007 the Shell and Rubis groups announced an agreement for the purchase of Shell’s LPG distribution subsidiaries in Europe. The acquisition programme will follow the planned schedule.
The Spanish subsidiary has been controlled by RUBIS since 27 April and the acquisition of the German subsidiary has now been finalised. The next acquisitions, in the Czech Republic and Switzerland, are expected to take place on 30 June 2007. The acquisition in Bulgaria will be completed upon receipt of approval of the competition authorities.
In Romania, the holder of a 45% minority stake announced the exercise of a pre-emptive right, subject to the approval of the competition authorities.
The definitive scope represents an overall transaction value of €50 million. Rubis benefited notably from the appreciation of the euro, as the initial offer was made in US dollars.
The five subsidiaries recorded total turnover of €134 million in 2006, representing 184,000 tonnes of LPG sold.
Next trading update:
Combined General Meeting – Thursday, 14 June 2007
Press Contact
COMFIDANCE – Jocelyne GUILLON
Tel: +33 (0)1 56 21 20 13
Analyst Contact
RUBIS – Bruno KRIEF
Tel: +33 (0)1 44 17 95 95