The Rubis Group is in an advanced stage negotiation with Blue Equity, LLC for the purchase of its fuels distribution business in Jamaica.
Blue Equity’s portfolio company, The Antilles Group Limited (TAG), supplies a network of 53 service stations currently operating under the Shell brand (the original shareholder), and has a broad customer base in the commercial and industrial sectors.
With 270,000 cm of fuels distributed, representing approximately 30% market share, the company remains the undisputed leader in the downstream petroleum products business on the Island.
Additionally, an import and storage infrastructure, along with stations located in the major strategic locations, serves to provide the company with a significant competitive advantage.
This acquisition would serve to consolidate Rubis’ presence in the Caribbean, where the publicly traded company is one of the largest operators of downstream operations, as well as generate synergies, especially in the area of fuel supply.