23rd Mar 2016 11:21
LONDON (Alliance News) - Distribution company DCC PLC on Wednesday said it has reached a deal to acquire a commercial, aviation and retail fuels business in Denmark from Alimentation Couche-Tard Inc.
DCC is acquiring the business as a result of regulatory remedies Couche-Tard has been forced to make as part of its acquisition of Royal Dutch Shell PLC's downstream marketing operations in Denmark.
DCC expects the deal to close in the second half of 2016 and said the deal will require a total investment of GBP30.0 million.
The assets acquired will include Shell's commercial and aviation distribution business in Denmark, plus a 139-site retail petrol station network. This will be merged with DCC's existing oil distribution business in Denmark.
"This acquisition will significantly strengthen our business in Denmark, as well as further develop our presence in the retail market for transport fuels, following our previous acquisitions in the European retail petrol station market in Sweden and France," said Tommy Breen, DCC's chief executive.
DCC shares were up 0.6% in London to 6,020.00 pence Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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