Brief: Rubis In Talks With I Squared Capital To Sell 55% Stake In JV Rubis Terminal

Rubis SCA

13/03/2024 06:28

March 13 (Reuters) - Rubis SCA  RUBF.PA :
    * RUBIS ENTERS INTO EXCLUSIVE NEGOTIATIONS WITH I SQUARED
CAPITAL
FOR THE SALE OF ITS 55% STAKE IN THE JV RUBIS TERMINAL
    * NET SELLING PRICE FOR 55% STAKE HELD BY RUBIS WOULD AMOUNT
TO
EUR 375 MLN TO BE RECEIVED THROUGH A EUR 125 MLN CASH
CONSIDERATION AT CLOSING, FOLLOWED BY THREE EQUAL INSTALMENTS
OVER NEXT THREE YEARS
    * TRANSACTION VALUE IMPLIES A C. 11X MULTIPLE OF JUNE 2023
LAST-TWELVE-MONTH EBITDA
    * CLOSING IS EXPECTED BY MID-YEAR 2024
    * REMAINDER OF PROCEEDS WOULD BE DEDICATED TO ACCELERATION
OF
ENERGY TRANSITION PROCESS ACROSS ALL GROUP OPERATIONS
    * ESTIMATED EUR 75 MLN CAPITAL GAIN GENERATED FROM SALE
WOULD BE
FULLY RETURNED TO SHAREHOLDERS THROUGH AN EXCEPTIONAL DIVIDEND
PAYMENT OF EUR 0.75 PER SHARE TO TAKE PLACE AFTER CLOSING

Source text:  ID:nGNE3sLgkV 
Further company coverage:  RUBF.PA 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48587785110;))