Business
DCC agrees to acquire French unmanned network
DCC agrees to acquire French unmanned network.
About this update from Dcc Plc
[{"type":"text","content":"\n \nRNS Number : 2068Q DCC PLC 28 August 2014 \n \n\n \n28 August 2014\n \nDCC Energy agrees to acquire Esso SAF's unmanned and motorway retail petrol station network in France\n \n \nDCC plc, the international sales, marketing, distribution and business support services group, has reached agreement in principle with Esso Société Anonyme Française (\"Esso SAF\") to acquire the assets that comprise the Esso Express unmanned retail petrol station network and the Esso Motorway concessions in France. Completion of the acquisition is subject to, inter alia, the conclusion of the French Works Council consultation process and EC competition clearance. The transaction is expected to complete in the first half of calendar 2015 after the relevant clearances have been received and the implementation of an IT and operational infrastructure.\n \nThe total consideration will be €106 million (£84 million), plus stock in tank at the date of acquisition, all payable in cash on completion.\n \nThis will be DCC Energy's second major acquisition in the European unmanned retail petrol station market following the acquisition of Qstar in Sweden in May 2014 and is a further step in the execution of DCC's strategy to build a larger presence in the transport fuels sector. \n \nThe acquisition will comprise: Esso SAF's network of 274 Esso Express unmanned petrol stations (\"Esso Express\"); 48 Esso branded motorway concessions (\"Motorway Sites\"); and contracts to supply c. 75 Dealer Owned Dealer Operated sites (together \"Esso SAF Retail\"). As part of the transaction, DCC Energy will enter into a long term branded supply agreeement with Esso SAF.\n \nEsso SAF was the pioneer of the unmanned format for retail petrol stations in France when it converted its full service network to the Express format c. 15 years ago. Esso Express (and the related dealer supply business) sells c. 1.7 billion litres of fuel. The Motorway Sites comprise 48 full service petrol stations selling c. 230 million litres of fuel located on motorways across France. These sites are operated under concession contracts for fixed periods which are subject to a public re-tendering process at the expiry of each concession. The management of the retail operations on the Motorway Sites is outsourced to one of the world's leading oper...