RUBIS COMPLETES ERES ACQUISITION
2015年6月3日 - 1:00AM
June 2, 2015
Following March 23 press announcement, Rubis is
completing today the acquisition of Eres.
Eres is one of the main
independent specialists in supply-transportation-logistic-retail of
bitumen, operating in Western Africa.
With the support of a strong
logistic infrastructure including import terminals in Senegal,
Togo, and Nigeria, the Group is leader in the sub-region. The
company controls the whole logistics and supply chain from the
refinery in-take, shipping, sea-connected import terminals to
inland depot till truck delivery to the final users on the work
site.
This significant acquisition is in
line with Rubis strategy: a niche product, marketed on structurally
import markets where the infrastructure component is essential to
maintain in the long run a competitive advantage and to offer the
best service to international road contractors.
In 2014, Eres total sales-revenues
have reached $557M with a pro-forma profit generation of around 8%
of sales. The company has marketed near 400 000 tons of
bitumen and emulsion in 2014 in addition to fuels in Western
Africa. Eres has successfully built a solid business base in the
region helped by its expertise and its powerful integrated logistic
(vessels, terminals, road transportation).
The transaction includes the
immediate purchase of 75% of the shares followed by a scheduled
earn out payment and the remaining 25% shares after 3 years. Rubis
will pay $315M for 75% of the shares including the working capital.
The earn out element for a maximum amount of $120M is linked to
profits and scheduled over a period of 3 years. The remaining
purchase of 25% shares will take place in 3 years and indexed on
profit performance.
Upcoming events:
Ordinary and Extraordinary Shareholders' Meeting on June 5,
2015
Half-year results on August 31, 2015 (after
market)
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 |
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information contained therein.
Source: RUBIS via Globenewswire
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