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Thursday, 20 July 2017

RUBIS PURCHASES THE LEADING FUEL MARKETER IN MADAGASCAR

RUBIS    

Published: 17:35 CEST 20-07-2017 /GlobeNewswire /Source: RUBIS / : RUI /ISIN: FR0000121253



Paris, July 20, 2017, 5.35 p.m.

 

  

Rubis has completed this day the acquisition of Galana Group companies in Madagascar, the country's leading fuel marketer.

With 260,000 cbm of fuel retailed in 2016, Galana is present on the main fuel market segments: petrol station network strong of 71 units, commercial fuels including mining and utilities sector, LPG and lubricants. Supporting its operations, Galana controls the island's sole import terminal.

This strategic asset located in Tamatave has a storage capacity of 260 000 cbm and benefits from a private access to the jetty.

Galana fully meets Rubis' investment criteria in fuel marketing: a leading player (30% market share) along with the import logistic ownership.

Together with its current business in La Réunion (SRPP - 240 000 cbm) this acquisition reinforces Rubis' operations in the Indian Ocean in fuel distribution. This boost will no doubt help generate additional leverage through volumes combined with economies of scale in shipping.

During the year ended 2016, Galana has posted a turnover of USD 215 million.

This acquisition is effective immediately contributing to Rubis' consolidation scope from July 1st, 2017.

 

 

 

Next event:

2017 half-year results on September 7, 2017 (Market closing)

 

 

 

 

Press Contact

Analysts Contact

PUBLICIS CONSULTANTS - Aurélie Gabrieli

RUBIS - Finance Department

Tel: +33 1 4482 4833

Tel: +33 (0) 1 4417 9595

 



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This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: RUBIS, 105, avenue Raymond Poincaré, PARIS FR-75116, France
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