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Rubis finalizes the acquisition of 80% of Photosol for 385 million euros | Photo credits: Ruby
PARIS (Agefi-Dow Jones)–The oil products distribution and storage group Rubis announced on Thursday that it has finalized the acquisition for 385 million euros of 80% of the company specializing in photovoltaic installations Photosol France.
“This acquisition forms the basis for the development of the group’s activities in renewable energies, alongside its historical activities of energy distribution via the subsidiary Rubis Energie (Distribution and Support & Services) and storage of liquid products via the JV Rubis Terminal,” Rubis said in a statement.
“This new line of business should benefit from Photosol’s strong presence in France and Rubis’ international positioning,” added Rubis.
“In the short term, the acquisition will not have a significant impact on earnings per share (EPS), but the gross operating income (EBITDA) and contribution to Photosol’s profits will accelerate in the medium and long term. “, underlined the group.
-Eric Chalmet, Agefi-Dow Jones; 01 41 27 47 95; [email protected] ed: FXS
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
April 14, 2022 12:49 ET (16:49 GMT)
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