Rubis Buys Shell Distribution Business in Channel Islands
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Monday, 09 June 2008 |
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Shell distribution activities in Guernsey and Jersey are being
bought for just under €25m. French oil and gas storage and
distributions company Rubis HQ in Paris, announced the acquisition this week.
Nobody from Fuel Supplies CI was available for comment but when
talks about selling the company started last year, its 100-plus staff
were told their jobs would be safe.
The deal, which allows Rubis to enter the aviation fuel market,
includes a network of 27 retail service stations across the two islands
and its commercial fuels and heating oil operations and associated
services.
It means that Rubis will increase its fuel sales by 15% to 800,000
tonnes a year. The transaction is subject to regulatory approval, will
be financed on the group’s own financial capability and will amount to
a maximum of €25m.
PetrolWorld 050608
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