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English Español Rubis eyes oil market dominance in buying Gulf Energy

Rubis Énergie SAS plans to acquire Kenyan oil marketer Gulf Energy Limited. The acquisition is subject to the approval of Kenyan regulatory and competition authorities.



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Rubis signed a share purchase agreement for the acquisition of Gulf Energy Holdings Limited (GEHL), which ranks number four in Kenya in a fuel marketer.

With a cumulative sale of 470 000 CBM of petroleum products in 2018, GEHL supplies fuel to 46 gas stations, commercial customers (notably supplying power plants and large industrial consumers), aviation fuels, LPG and lubricants. To support its distribution activities, the company owns two fuel depots (Mombasa and Nairobi) along with a LPG storage and filling plant and a lubricants unit.

After having succeeded in its takeover offer on KenolKobil in March 2019, Rubis, already active on the fast-growing Kenyan market, would with this acquisition, become leader with a 20% market share.

Higher volumes in this market would allow, in time, to generate significant economies of scale. In 2018, GEHL generated a turnover of USD 320 million.

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