Rubis has entered into exclusive negotiations with I Squared Capital for the sale of its 55% stake in the Rubis Terminal JV.

Rubis Terminal is a major player in the storage of liquid products, with 4 million m3 of storage capacity in France, Spain and the Antwerp and Rotterdam hubs.

The net sale price for Rubis' 55% stake would amount to 375 million euros, to be paid in one instalment of 125 million euros at closing, followed by three equal instalments over the next three years.

The capital gain on the sale, estimated at 75 million euros, would be paid in full to shareholders via an exceptional dividend of 0.75 euro per share, to be paid after closing. The balance would be allocated to accelerating the energy transition in all the Group's operating activities.

' For Rubis, this sale is an opportunity to crystallize the value created. It is perfectly in line with the Group's strategy, implemented since 2021, of increasing its return to shareholders by developing the Energy Distribution division, while focusing its investments on Renewable Energy Production', says the Group.

The transaction is expected to close in mid-2024.

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