Legal Business DWF (France) AARPI has advised France-based international company Rubis, which specialises in the storage, distribution and sale of industrial liquid on the acquisition of the 50% remaining equity stake in Delta Rubis, a Turkish company operating a 650 000 cbm fuel storage facility located in Ceyhan, on the southeast coast of Turkey.
The acquisition, which will be completed once approval from the local competition authority is received, will see Rubis taking full control of the company which allows further developments of this independent petroleum storage facility including the construction of an additional 120,000 cbm storage capacity. The current partnership was founded in January 2012 with the set-up of a 50/50 joint venture.
Pascale Gallien, partner at DWF (France) AARPI said: “We have assisted Rubis on this multijurisdictional project for many years, since the time when Rubis entered into the 50/50 joint venture with its local partners in 2012. It was a pleasure to advise Rubis on the acquisition of the remaining 50% equity stake from its local partners, which is testament to the team’s ability to deliver results and build longstanding relationships with our clients”
The DWF team advising on the deal was led by Paris-based corporate partner Pascale Gallien, with support from her senior associate, Vincent Maufront.