Following the announcement made on 5 February, Rubis has obtained the green light to complete the acquisition of 100 percent of SRPP (Société Réunionnaise de Produits Pétroliers), from Shell and Total.
SRPP markets fuels, LPG and lubricants in Reunion Island, a French territory in the southern Indian Ocean. With a retail network of 51 petrol stations, SRPP is the local market leader.
The company owns and operates the main storage facility and other logistics assets used to supply the island. In 2014, its turnover has reached €250 million.
A new decree issued in February 2014, setting local prices and margins for the petroleum industry, will allow SRPP to generate a normative EBITDA of nearly €22 million.
Through the acquisition, Rubis is building its presence in the Indian Ocean, as it also has assets in Madagascar, Comoros, and southern Africa, as well as extending its activity to fuel distribution with the advantage of an integrated logistics.