Applegreen has announced that it has entered into a conditional agreement to acquire a 50% share in the Joint Fuels Terminal in Dublin port from the Topaz Energy Group. Applegreen will acquire the share for a consideration of approximately €15.7m, with the purchase to be funded from existing resources.
The Joint Fuels Terminal, which is 50% owned by Valero Energy (Ireland) Limited, is one of three fuel importing facilities in Dublin port.
The proposed acquisition will provide Applegreen with the facility to import fuel directly from refineries.
The transaction will complete following conditions including the approval of the Competition and Consumer Protection Commission.
It is expected to be finalised in Q1 2017.
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