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.”