Rubis: in green, a broker raises his price target
The analyst reports that Rubis has entered into exclusive negotiations with US infrastructure fund I Squared Capital to sell its 55% stake in Rubis Terminal.
I Squared Capital will thus take exclusive control of the joint venture.
'For Rubis, the aim is to crystallize value and focus on its historic business of the Energy Distribution branch, while directing its investments towards Renewable Energy Production', reports the broker.
According to the analyst, this operation does not come as a major surprise, as management had already indicated that this stake in Rubis Terminal was 'not strategic in the long term'.
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