RUBIS COMPLETES ACQUISITION OF SRPP (REUNION ISLAND)
Following the announcement made on February 5, RUBIS has obtained green light from administrative body to complete the acquisition of 100% of SRPP (Société Réunionnaise de Produits Pétroliers), from SHELL and TOTAL.
SRPP markets fuels, LPG and lubricants in Reunion Island. With a retail network of 51 petrol stations, SRPP is the local market leader. The company owns and operates the main storage facility and other logistics used to supply the Island. In 2014, its turnover has reached € 250 million. A new decree issued in February 2014, setting local prices and margins for the petroleum industry, will allow SRPP to generate a normative EBITDA of near € 22 million.
Through this acquisition, RUBIS is building up its presence in the Indian Ocean (Madagascar, Comoros, southern Africa) and extend its activity to fuel distribution with the advantage of an integrated logistics.
Half-year results on August 31, 2015 (after market)
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