Rubis completes the purchase of Gulf Energy Holdings Limited in Kenya
RUBIS
Rubis completes the purchase of Gulf Energy Holdings Limited in Kenya
13-Dec-2019 / 17:35 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Paris, December 13th 2019, 5:35 pm
Following approval from the Kenyan Competition Authority and Energy Regulatory Commission, Rubis, via its local subsidiary KenolKobil, has finalized today the acquisition of Gulf Energy Holdings Limited (« GEHL »), a special purpose company housing part of the oil marketing assets and businesses of Gulf Energy Limited which ranks number 4 in Kenya as a fuel marketer.
With cumulative volumes of 470 000 m3 of petroleum products in 2018, GEHL is present in the main market segments: retail (46 gas stations), commercial (notably supplying power plants and large industrial consumers), aviation fuels, LPG and lubricants. To support its distribution activities, the company owns two fuel depots (Mombasa and Nairobi) along with an LPG storage and filling plant and a lubricants unit.
After having succeeded in its Public Offer on KenolKobil in March 2019, Rubis already active on the fast-growing Kenyan market will become market leader with a combined 20% market share.
This acquisition is in line with Rubis' development strategy and will strengthen Rubis' position in an area where the Group foresees a strong growth in terms of energy demand.
Upcoming events:
Fourth quarter 2019 revenue: 11 February 2020 (after market closing)
Press Contact
Analyst Contact
PUBLICIS CONSULTANTS - Aurélie Gabrieli
RUBIS - Investor Relations
Tel. +(33) 1 44 82 48 33
Tel: +(33) 1 44 17 95 95
Document title: Rubis completes the purchase of Gulf Energy Holdings Limited in Kenya
Document: http://n.eqs.com/c/fncls.ssp?u=UNLHHHYOLC
Language: English Company: RUBIS 46, rue Boissière 75116 Paris France Phone: +33 144 17 95 51 Fax: +33 145 01 72 49 E-mail: communication@rubis.fr Internet: www.rubis.fr ISIN: FR0013269123 Euronext Ticker: RUI AMF Category: Inside information / Issuer activities (acquisitions, sales...) EQS News ID: 935845 End of Announcement EQS News Service
935845 13-Dec-2019 CET/CEST