Rubis: acquisition in photovoltaic sector

(CercleFinance.com) - Industrial liquid storage group Rubis has announced the strategic acquisition of 80% of Photosol France, one of the leading independent developers of renewable electricity in France, for a cash payment of 376 million euros.


Having about 80 employees in France, the solar energy company has developed a pipeline of approximately 3.4 GW and has 313 MW of operational capacity and 101 MW under construction.

The acquisition will be entirely debt-financed, with it resulting in Rubis' pro-forma net debt to EBITDA ratio remaining below three times. The transaction is expected to close in the first quarter of 2022.


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