RUBIS' TAKES FULL CONTROL
OF DELTA RUBIS PETROL IN TURKEY
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.
Q4 2016 revenue: February 9, 2017 (Market closing)
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