Antoine Goulart, auteur sur Rubis Terminal

News

17
Jan

PARIS, JANUARY 17, 2022

RUBIS TERMINAL – Completion of the transaction with TRANSPET

On January 14, 2022, Rubis Terminal Infra SAS (Rubis Terminal) completed the sale of 100% of the shares of the company (the Company) ultimately holding the Turkish assets (Rubis Terminal Petrol) to Transpet Petrolcülük ve Enerji A.Ş. (Transpet).

Rubis Terminal signed an agreement to sell the Company to Transpet on December 15, 2021 and all regulatory approvals and conditions of the sale have been met. With completion of the sale, Transpet has become the sole shareholder (100% ownership) of the Company.

The Rubis Terminal Petrol terminal (the Terminal) has a storage capacity of 650,000m³ dedicated to petroleum products and a 2.3km long jetty. The Terminal is strategically located to take advantage of the Eastern Mediterranean zone’s growing role as a key trading hub and provides critical import/export infrastructure for Iraqi flows.

Rubis Terminal is a leading independent storage provider specializing in the storage and handling of bulk liquid products. Rubis Terminal operates storage sites that are strategically positioned near key transportation and infrastructure hubs across France, ARA and Spain.

Transpet is a leading energy group based in Turkey. The Group is further active in industry and renewable energy. The Group is also involved in the trading of petroleum products and has strategic plans to develop chemical storage capacities in Turkey.

Bank of America Securities acted as financial advisor to Rubis Terminal. DWF acted as lead legal advisor to Rubis Terminal with the assistance of Dirkzwager legal & tax in the Netherlands and Özkan Gürden Bingöl (OGB) in Turkey.

ÜNLÜ & Co acted as financial advisor to Transpet. Küçük Law Office acted as legal advisor to Transpet. EY acted as financial and tax due diligence advisor, and TÜV Rheinland and Normetic acted as technical due diligence advisors.

Bruno Hayem, CEO of Rubis Terminal: “This move is consistent with Rubis Terminal’s strategy to focus on Western Europe, reducing volatility of its earnings, and strengthening its portfolio mix towards chemicals, biofuels, and other non-fuel products. We have full confidence that Transpet, using its deep knowledge of the region, will be able to further develop the Terminal.

Mehmet Ali İslamoğlu, Board Member of Transpet: “With this acquisition, we are adding a new growth area to our portfolio. We will enrich our activities with this strategically positioned terminal. We aim to appeal to the greater Mediterranean Region and will continue to improve our services for the benefit of our stakeholders, ensuring top-notch operational support both to our existent and future business partners. We will further develop Rubis Terminal Petrol using our expertise in the sector and bringing added value to our clients, Turkey and the greater region.”

21
Jul

PRESS RELEASE – PARIS, JULY 21, 2020 – 18 :00

THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF RUBIS TERMINAL INFRA

RUBIS TERMINAL, A JOINT VENTURE BETWEEN I SQUARED CAPITAL AND RUBIS, TO EXPAND IN SPAIN THROUGH THE ACQUISITION OF TEPSA, A LEADING COMPANY IN THE STORAGE OF BULK LIQUID PRODUCTS

Rubis Terminal, a joint venture between I Squared Capital, an international infrastructure fund manager, and Rubis, a French listed company specializing in the storage of petroleum products, announces the acquisition of TEPSA, a Spain-based leading bulk liquid storage operator. The agreement was signed today with a planned completion upon approval from the Spanish administrative and antitrust 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.

This transformational acquisition, which increases the size of Rubis Terminal by around 30%, is the first since the Rubis – I Squared Capital joint venture was formed in April 2020.

This is a strategic transaction for Rubis Terminal, creating a platform to capture product flows in the Mediterranean region, as well as to explore an entrance into high-growth markets in Latin America. In addition to diversifying Rubis Terminal’s geographic footprint, this acquisition also increases the relative weight of the growing chemical sector, where commercial synergies are expected with Rubis Terminal’s existing positions in France and in the Amsterdam / Rotterdam / Antwerp area (known as the ARA area).

Sadek Wahba, Chairman and Managing Partner of I Squared Capital: “This acquisition shows the strength of the partnership between a large industrial group and an independent, global infrastructure investment manager. We are growing the size of Rubis Terminal by a third, while diversifying its activity, and opening up to other very promising markets. This is just the start: we have great ambitions for our French company, Rubis Terminal, to join the world leaders in the sector in the months and years to come.“

Gilles Gobin, founder and Managing Partner of Rubis: “This acquisition is only the first step in a strategy which further consolidates Rubis Terminal’s leadership position, while diversifying its activities and its footprint. This first acquisition demonstrates the positive dynamism brought by our Franco-American cooperation, based on the common objective to drive long-term growth.“

Bruno Hayem, CEO of Rubis Terminal: “TEPSA is very close to Rubis Terminal in terms of corporate culture and the high quality of its assets, its leaders and its teams. This strategic alliance will bring significant growth potential and the capacity to strengthen the services offered to our clients.”

Jacques Nahmias, Chairman of Pétrofrance S.A.: “The sale of TEPSA represents an important milestone in the company’s history. This transaction allows TEPSA to join a group with an international presence, with common values and which will support its continued development in Spain as well as outside its natural borders.”

About I Squared Capital:

I Squared Capital is an independent, global infrastructure investment manager focusing on energy, utilities, telecommunication, transportation and social infrastructure sectors across North America, Europe, and select high growth economies in Asia and Latin America.

About Rubis:

Rubis is a French company specializing in the distribution of petroleum products (LPG, fuel oils, bitumen) through its subsidiary Rubis Énergie and in infrastructure, transport, supply and service activities via its “Rubis Support and Services” division with leading positions in its markets. It owns 55% of Rubis Terminal. The Rubis group includes 4,000 employees spread across 25 profit centers between Europe, Africa and the Caribbean-Latin America region.

About Rubis Terminal:

Rubis Terminal is an independent European leader in the storage of petroleum, chemical and agri-food products. Rubis Terminal operates 3.6 million m³ of storage capacity at 13 terminals in France, Netherlands, Belgium and Turkey.

Rubis Terminal is jointly controlled by Rubis and I Squared-Capital, respectively holding 55% and 45% of the capital since April 30, 2020.

Rubis Terminal Press contact:

Gérard LAFITE
Tél. : +33 (0)1 53 81 86 20 gerard.lafite@rubis-terminal.com

Rubis Terminal Analyst contact:

Marc JACQUOT
Tél. : +33 (0)1 53 81 86 20 marc.jacquot@rubis-terminal.com

14
May

Press Release – Paris, May 14, 2020

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Rubis Terminal Infra Announces the Successful Pricing of Senior Secured Notes

The Notes will bear interest at an annual rate equal to 5.625%, and will be issued at 100% of their nominal value.

The Issuer intends to use the proceeds of the Notes, together with cash on hand, (i) to repay in full debt incurred in connection with the acquisition of 45% of the equity capital of Rubis Terminal by I Squared Capital Advisors (US) LLC and the concurrent refinancing of the Group’s existing indebtedness and (ii) to pay fees and expenses related to the offering of the Notes.

The settlement is expected to take place on or about May 19, 2020, subject to customary closing conditions.

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The offering is being made by means of an offering memorandum. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other security in any jurisdiction and shall, in any circumstance, not constitute an offer, solicitation or sale in the United States or in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful.

The offer and sale of the Notes has not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), and the Notes may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under the Securities Act) unless so registered or an exemption from the registration requirements of the Securities Act is available. The Issuer does not intend to register any portion of the offering of the Securities in the United States or to conduct a public offering of the Securities in the United States.

No action has been, or will be, taken in any jurisdiction (including the United States) by the Issuer that would result in a public offering of the Notes or the possession, circulation or distribution of any offering memorandum or any other material relating to the Issuer or the Notes in any jurisdiction where action for such purpose is required.

The offering memorandum relating to the Notes and the Notes shall only be offered or sold, directly or indirectly, to the public in France pursuant to an exemption under Article 1(4) of the Regulation (EU) 2017/1129 (the “Prospectus Regulation”) and under Article L.411-2 of the French Monetary and Financial Code (Code monétaire et financier).

The Notes may only be offered or sold in France to qualified investors (investisseurs qualifiés) as defined in the Prospectus Regulation as amended from time to time and in Article L.411-2 1° of the French Monetary and Financial Code.

The offering memorandum related to the Notes is for distribution only to, and is only directed at, persons who (i) are outside the United Kingdom, (ii) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended, (the “Order”), (iii) are high net worth entities falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Order or (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000 (the “FSMA”)) in connection with the issue or sale of any Notes may otherwise lawfully be communicated (all such persons together being referred to as “relevant persons”). This press release is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this press release relates is available only to relevant persons and will be engaged in only with relevant persons. The Notes are being offered solely to “qualified investors” as defined in the Prospectus Regulation and accordingly the offer of Notes is not subject to the obligation to publish a prospectus within the meaning of the Prospectus Regulation. Any person who is not a relevant person should not act or rely on this press release or any of its contents.

MiFID II professionals/ECPs-only / No PRIIPs KID – Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA.

Neither the content of the Issuer’s website nor any website accessible by hyperlinks on the Issuer’s website is incorporated in, or forms part of, this announcement. The distribution of this announcement into certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This press release may include projections and other “forward-looking” statements within the meaning of applicable securities laws. Any such projections or statements reflect the current views of the Issuer or its subsidiaries about further events and financial performance. No assurances can be given that such events or performance will occur as projected and actual results may differ materially from these projections.

FCA/ICMA Stabilisation

11
May

Press Release – Paris, May 11, 2020

Rubis Terminal Infra Announces Offering of Senior Secured Notes

Rubis Terminal Infra, a limited liability company (société par actions simplifiée) organized under the laws of France (the “Issuer”) and member of the Rubis Terminal group (the “Group”), has launched an offering of €410.0 million in aggregate principal amount of senior secured notes due 2025 (the “Notes”). The Issuer intends to use the proceeds of the Notes, together with cash on hand, (i) to repay in full debt incurred in connection with the acquisition of 45% of the equity capital of Rubis Terminal by I Squared Capital Advisors (US) LLC and the concurrent refinancing of the Group’s existing indebtedness and (ii) to pay fees and expenses related to the offering of the Notes.

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FCA/ICMA Stabilisation

30
Apr

INFRASTRUCTURE FUND I SQUARED CAPITAL AND RUBIS FINALISE THEIR PARTNERSHIP IN RUBIS TERMINAL

Rubis published the following Press Release on April 30^th 2020: “Rubis, a Paris-based company specializing in the distribution of petroleum products and bulk liquid storage and I Squared Capital, a leading global infrastructure investor, finalised their partnership in Rubis Terminal that was announced last January. According to this agreement, Rubis and I Squared Capital will jointly control Rubis Terminal, holding respectively 55% and 45% of the company’s shares.

With a portfolio of 13 facilities and a capacity of 3.6 million cubic meters across four countries (France, Belgium, The Netherlands and Turkey), Rubis Terminal provides critical bulk liquid storage infrastructure to a diversified base of industrial customers and across a broad range of petroleum, chemical and agri-food products.

The joint venture will accelerate Rubis Terminal’s strategic plan to strengthen its position within its current footprint, diversify its product offerings and explore potential expansion outside Europe.

The transaction has been secured through a €410 million refinancing facility provided by a bank consortium formed by J.P. Morgan, Crédit Agricole CIB and Société Générale. It also includes a Revolving credit facility of €75 million to secure Rubis Terminal’s future organic development.

Société Générale has acted as Rubis’ advisor to set up the partnership with I Squared Capital.”

Avec 13 dépôts et une capacité de stockage de 3,6 millions de mètres cubes répartis dans quatre pays (France, Pays-Bas, Belgique et Turquie), Rubis Terminal offre à une clientèle industrielle diversifiée des infrastructures de première importance dans le stockage de produits liquides, couvrant une large gamme de produits pétroliers, chimiques et agro-alimentaires, avec des positions de leader sur ses marchés.

Ce partenariat vient amplifier la stratégie de Rubis Terminal visant à renforcer ses positions existantes sur ses marchés, diversifier son offre et explorer de nouvelles opportunités de développement hors d’Europe.

Cette opération a donné lieu à la mise en place d’un refinancement de 410 millions d’euros assuré par un consortium bancaire constitué de J.P. Morgan, Crédit Agricole CIB et Société Générale. Une ligne Revolving complémentaire de 75 millions d’euros a par ailleurs aussi été mise en place pour soutenir le développement organique de Rubis Terminal.

Société Générale a été mandatée conseil de Rubis pour la négociation du partenariat avec I Squared Capital. »