RUBIS PURCHASES THE LEADING FUEL MARKETER IN MADAGASCAR
21 July 2017 - 1:35AM
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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Source: RUBIS via Globenewswire
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