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Rubis in exclusive negotiation with Shell and Total to acquire SRPP their joint fuel storage and distribution business in La Réunion

02|05|2015

 February 5, 2015

 

RUBIS has made an irrevocable offer to the SHELL Group and the TOTAL Group, each 50% shareholder of the SRPP (Société Réunionnaise de Produits Pétroliers), to purchase the entire share capital of this company.

In reply to this offer, SHELL and TOTAL have accepted to open an exclusive period of negotiation.

SRPP markets fuels, LPG and lubricants in La Réunion. 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.

This offer will trigger the consultation of employee representatives of SRPP and the selling shareholders and, if accepted, completion of the transaction would be subject to the review of the French Competition Authority.

Through this projected debt-financed acquisition, RUBIS would build 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.

  

Upcoming events:

Q4 2014 sales revenue: February 10, 2015 (after Bourse closing)

  

 

Press Contact 
PUBLICIS CONSULTANTS - Aurélie GABRIELI 
Tel.: +33 (0)1 44 82 48 33
Analyst Contact
RUBIS - Bruno Krief
Tel.: +33 (0)1 44 17 95 95