RUBIS: following approval from the Portuguese competition authority Rubis completes purchase of Repsol LPG distribution assets in Madeira and Azores

Paris, October 31, 2018, 17:35 p.m.

After a 15-month process, Rubis has received the final approval of the Portuguese Competition Authority to purchase from Repsol its LPG distribution assets in the Portuguese islands of Madeira and Azores.

The purchase of the LPG piped operations in Portugal mainland was completed in July 2017.

This acquisition enables Rubis to widen its commercial offer and to reach a critical size in LPG distribution in Madeira and Azores.

Those operations realize an annual volume of around 13,000 tons representing 11% of total volumes sold by the Group in Portugal and generate a normalized EBITDA of around EUR5 million.

The acquired business covers the packed, bulk and piped segments together with the associated logistics assets.

This new acquisition is in line with Rubis' development strategy to build up and complement its existing positions in niche markets.

Next meeting:

Third quarter revenue, 8 November 2018 (market closing)