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Bloomberg: Rubis Buys LPG Operations in Six European Countries From Shell

By Fred Pals

March 21 (Bloomberg) — Rubis SA, a French distributor of liquefied petroleum gas, agreed to buy LPG operations from Royal Dutch Shell Plc. in six European countries, doubling its volume in the market for the fuel.

Rubis agreed to buy Shell’s distribution operations in Bulgaria, the Czech Republic, Germany, Romania, Spain and Switzerland for as much as 90 million euros ($120 million), Rubis said in a statement today on its Web site.

The company plans to sell new shares to finance the purchase, which represents 180 million euros in sales and will double Rubis’s LPG volume to 250,000 tons, it said in the statement.

Paris-based Rubis has spent a total of 230 million euros in acquisitions since October 2006, it said in the statement.

To contact the reporter on this story: Fred Pals in Amsterdam at [email protected]

Last Updated: March 21, 2007 04:25 EDT

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