Rubis: signs an agreement on Rubis Terminal

(CercleFinance.com) - Rubis announces that it has signed an agreement under which I Squared Capital will indirectly acquire 45% of the 99.
4% stake held by Rubis in Rubis Terminal, following a favourable opinion by Rubis Terminal's social and economic committee.

Rubis Terminal's enterprise value has been set at one billion euros, i.e. a multiple of 11.2x its FY 2018 EBITDA (including 50% of the Antwerp site), with the group's balance sheet greatly deleveraged by this deal.

The completion of the transaction remains subject to approval from the competent authorities. Subject to obtaining these regulatory authorisations and other customary conditions, it should occur during the first half of 2020.


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