Rubis Concludes Significant Stake Sale in Tepsa
In a strategic move aimed at bolstering its focus on energy distribution and renewable electricity production, Rubis has finalized the sale of its 55% stake in the Rubis Terminal joint venture, now operated under the Tepsa brand. This sale was completed on a date that marks a new chapter for the company, as it looks towards future endeavors in the energy sector.
Financial Overview and Dividend Implications
Following the previously signed agreement, Rubis has received an initial payment of €124 million at closing. A significant portion of this amount, roughly €77 million, is set to be returned to shareholders through an exceptional interim dividend for the year. Each shareholder will benefit from a dividend of €0.75 per share, which underscores Rubis' commitment to maintaining shareholder value amidst strategic transitions.
Details of Dividend Distribution
The interim dividend will be detached on a specified date and is scheduled for payment shortly thereafter. This dividend is in addition to the regular annual payouts expected from Rubis, emphasizing their proactive approach in rewarding investors.
Future Growth and Investment Plans
The proceeds from this significant sale will not be dormant; Rubis plans to allocate the remaining funds towards accelerating the growth of its energy distribution and renewable electricity production sectors. This strategy reflects a broader commitment to sustainability and innovation within the industry.
Upcoming Events for Investors
Looking ahead, Rubis has outlined key dates for upcoming events that will inform shareholders and stakeholders about the company's performance and future outlook. These include a trading update and annual results announcement, both crucial for evaluating the financial trajectory of the organization.
Company Contact Information
For inquiries, Rubis provides a dedicated communication and investor relations team. The Communication Department can be reached at +33 (0)1 44 17 95 95 or via email at presse@rubis.fr. For investor-related questions, Clémence Mignot-Dupeyrot, the Head of Investor Relations, is available at +33 (0)1 45 01 87 44 or at investors@rubis.fr.
Frequently Asked Questions
What stake did Rubis sell in Tepsa?
Rubis sold its 55% stake in the Rubis Terminal joint venture, which is now branded as Tepsa.
Who is the buyer of Rubis Terminal?
The buyer of the Rubis Terminal stake is I Squared Capital, a global infrastructure investment firm.
What will Rubis do with the proceeds from the sale?
The remaining proceeds from the sale will be directed towards accelerating growth in its energy distribution and renewable electricity sectors.
How much is the interim dividend for shareholders?
Shareholders will receive an exceptional interim dividend of €0.75 per share as part of this transaction.
When is Rubis' next trading update?
The next trading update is scheduled for 5 November of the current year.
