Rubis Completes Sale of 55% Stake in Rubis Terminal

Rubis has completed the sale of its 55% ownership stake in Rubis Terminal, which has been rebranded as Tepsa. The transaction, finalized on October 16, 2024, follows the signing of a definitive agreement on April 10, 2024, with investor I Squared Capital.

The company received an initial payment of €124 million at closing. Of this amount, approximately €77 million will be distributed to shareholders as an exceptional interim dividend of €0.75 per share. This dividend is separate from the company's regular annual dividend and will be detached on November 6, with payment on November 8, 2024.

The remaining proceeds from the sale are earmarked for accelerating the development of Rubis's energy distribution and renewable electricity production businesses. The company previously announced its intention to sell the stake.

Rubis is scheduled to release its Q3 and nine-month 2024 trading update on November 5, 2024, after market close. Full-year 2024 results will be published on March 13, 2025.