Rubis Terminal is to buy TEPSA, pending approval from authorities in Spain. The deal, which Rubis describes as a “transformational acquisition”, will be the first since Rubis sold a 45% interest in Rubis Terminal to I Squared Capital in April.
"This acquisition shows the strength of the partnership between a large industrial group and an independent, global infrastructure investment manager,” says Sadek Wahba, chairman and managing partner of I Squared. “We are growing the size of Rubis Terminal by a third, while diversifying its activity, and opening up to other very promising markets. This is just the start: we have great ambitions for our French company, Rubis Terminal, to join the world leaders in the sector in the months and years to come."
"This acquisition is only the first step in a strategy which further consolidates Rubis Terminal's leadership position, while diversifying its activities and its footprint,” agrees Gilles Gobin, founder and managing partner of Rubis. “This first acquisition demonstrates the positive dynamism brought by our Franco-American cooperation, based on the common objective to drive long-term growth."
Jacques Nahmias, chairman of Pétrofrance, which owns TEPSA, says: “The sale of TEPSA represents an important milestone in the company's history. This transaction allows TEPSA to join a group with an international presence, with common values and which will support its continued development in Spain as well as outside its natural borders."
TEPSA operates four coastal terminals in Spain, located in Barcelona, Tarragona, Valencia and Bilbao, with a total storage capacity of some 912,000 m3. Its revenues in 2019 amounted to €52m and, Rubis says, it has significant growth potential as a result of its strong position in the Spanish market and expansion plans that are already underway.[post_title] => Rubis to buy TEPSA [post_excerpt] => [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => rubis-to-buy-tepsa [to_ping] => [pinged] => [post_modified] => 2020-07-24 11:33:56 [post_modified_gmt] => 2020-07-24 10:33:56 [post_content_filtered] => [post_parent] => 0 [guid] => https://hcblive.com/?p=24650 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw )