Rubis takes over the distribution LPG assets of Repsol in the islands of Madeira and Azores (Portugal) as well as the piped networks located in Portugal mainland.
This acquisition enables Rubis to include a piped distribution business into its portfolio and to reach a critical mass for its existing activities in Madeira and Azores.
This transaction represents an additional annual volume in a range of 15 000 tons, i.e. 12% of the current volumes already locally marketed by the Group and generates an annual EBITDA close to €6 million.
The assets comprise packed, bulk and piped activities together with the associated operational facilities.
For the piped networks mainland the transaction has a positive impact on Rubis’ profit since completion (July 1, 2017). The transaction regarding Madeira and Azores will be subject to prior agreement from the Portuguese Competition Authority.
This new acquisition illustrates the Rubis’ development strategy in niche markets to complement its existing activities. PWKD03082017