One of the main independent specialists in supply-transportation-logistic-retail of bitumen in Western Africa has been acquired by Rubis.
With Rubis’ current portfolio including import terminals in Sanegal, Togo and Nigeria, the company is now a leader in the sub-region. Rubis now controls the whole logistics and supply chain from the refinery in-take, shipping, sea-connected import terminals to inland depot till truck delivery.
The company says in a statement that this ‘significant acquisition’ is in line with its overall strategy.
Eres marketed near 400,000 tons of bitumen and emulsion in 2014 in addition to fuels in Western Africa.
The transaction includes the immediate purchase of 75% of the shares. Rubis will pay $315 million (€277 million) for 75% of the shares including the working capital. The remaining purchase of 25% shares will take place in three years and indexed on profit performance.
The acquisition heralds the launch of Rubis Support and Services, which will include all the infrastructure, transportation, supply and services operations which are supporting the marketing and retail distribution branch. It will also include a refinery in the French Antilles and the current supply and trading operations in the Caribbean.
