DCC Energy France signed an agreement in principle to acquire 274 Esso Express unmanned petrol stations, 48 Esso branded motorway concessions and contracts from Esso S.A.F. (ENXTPA:ES) for approximately €110 million.

DCC Energy France signed an agreement in principle to acquire 274 Esso Express unmanned petrol stations, 48 Esso branded motorway concessions and contracts from Esso S.A.F. (ENXTPA:ES) for approximately €110 million in cash on August 28, 2014. The consideration includes payment of stock in tank all payable in cash on completion. The transaction completion is subject to; inter alia, the conclusion of the French Works Council consultation process and EC competition clearance.

As of March 13, 2015, the transaction was approved by the European Commission. The transaction is expected to complete in the first half of 2015. As of May 19, 2015, acquisition is expected to be completed before the end of June 2015 as all legal and competition clearances have now been received.

Matthew Fletcher and Lisa Kavanagh of Powerscourt acted as public relations advisor to DCC. Thierry Le Brun, Anne Toupenay-Schueller, Ali Baydoun, Albéric Simunek, Patrick Thiebart, Dhiana Badji, Gabriel Di Chiara, Florent Prunet, Jean-Etienne Chatelon, Anne Benoit, Clément Bascoul and Arnaud Moraine of Jeantet acted as legal advisors for DCC. Robert Follie, Guillaume Mezache and Nathalie Dowlatshah of Holman Fenwick Willan and Corinne Knopp and Laure Nguyen of Hogan Lovells acted as legal advisors for ESSO.