Rubis: acquires Spain's TEPSA
(CercleFinance.com) - On Tuesday evening, Rubis Terminal (jointly controlled in a joint venture by I Squared Capital) and Rubis announced the acquisition of TEPSA, a company specialised in the storage of liquid products in Spain.
On Tuesday an agreement was signed to complete the transaction once approved by the Spanish administrative and competition authorities.
"TEPSA, controlled by Pétrofrance S.A., operates four coastal terminals located in Barcelona, Bilbao, Tarragona and Valencia with 912,000 m3 of storage capacity dedicated to chemical, biofuel and petroleum products. TEPSA generated 52 million euros of revenues in 2019 and has significant growth potential resulting from its strong positioning in the Spanish market and expansion plans already underway," Rubis said.
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