Rubis : completes the purchase of Gulf Energy Holdings Limited in Kenya
December 13, 2019 at 11:40 am EST
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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, December13th2019, 5:35 pm
Following approval from the Kenyan Competition Authority and Energy Regulatory Commission, Rubis, via its local subsidiary KenolKobil,has finalized today the acquisitionof 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 470000 m3of petroleum products in 2018, GEHLis present in the main market segments: retail (46gasstations), 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 andfilling plant and a lubricants unit.
After having succeeded in itsPublicOffer 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 acquisitionis 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
Regulatory filing PDF file
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...)
Rubis is an independent French group, operating in the energy sector for over 30 years. The activity is organized around 3 poles:
- Rubis Energie is established in Africa, the Caribbean and Europe and combines the Distribution activity and logistics in support of the Distribution activity via its Support & Services branch. The main products marketed are liquefied gases, fuels and biofuels for service stations and professionals (hotels, aviation, marine, public works, etc.) as well as bitumen;
- Rubis Renouvelables: a division created in 2022 and bringing together the activities of Photosol in France (one of the French independent leaders in large-scale photovoltaic installations as well as shading and roofing for professionals) and the partnership with HDF Energy on islands or in non-interconnected areas;
- JV Rubis Terminal specializes in the storage and handling of liquid and liquefied bulk products (fuels, biofuels, chemicals and foodstuffs) in Europe.
RUBIS 
