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Bulk storage operator Rubis has been given the green light by the French Competition Authority (l'Autorité de la concurrence) to complete the full acquisition of Societe Reunionnaise de Produits Petroliers (SRPP) from Shell and Total.

SRPP markets fuels, liquefied petroleum gas (LPG) and lubricants in Reunion Island. With a retail network of 51 petrol stations, it is the local market leader.

The company also owns and operates the main storage facility and other logistics used to supply the island. In 2014, its turnover was 250 million euros.

A new decree issued in February 2014, setting local prices and margins for the petroleum industry, will allow SRPP to generate a normative EBITDA of near 22 million euros.

Rubis is one of the leading European companies specialized in the distribution and storage of petroleum products, chemicals, agro products and fertilizers. It has storage terminals in Rotterdam, Antwerp and Ceyhan.

As a result of the SRPP acquisition, Rubis has also expanded its presence in the Indian Ocean.