French Fuel Distributor Rubis Is Said to Explore Sale [Yahoo! Finance Canada]
RUBIS ADR (RBSFY)
NASDAQ:AMEX Investor Relations:
rubis.fr/en/publications/financial-reports
Company Research
Source: Yahoo! Finance Canada
Most Read from Bloomberg The Paris-listed company is working with advisers and has reached out to potential suitors to gauge interest, said the people, who asked not to be identified as the information is private. Considerations are at an early stage and Rubis could decide against a deal, they said. A representative for Rubis declined to comment, adding the company “has regularly been the subject of rumors in recent months.” Shares of Rubis surged as much as 6.6% Wednesday before erasing the gains. They traded 0.2% lower by 9:28 a.m. in Paris, giving the company a market value of about €2.4 billion ($2.5 billion). Rubis distributes products such as gasoline and bitumen in Europe, Africa and the Caribbean. The firm last month completed a sale of its 55% stake in the Rubis Terminal joint venture to I Squared Capital. It's also been boosting investment in clean power after its 2022 acquisition of a solar farm developer. Rubis has been under activist investor pressure to change
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