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DCC to buy Chevron's UK oil distribution business
DUBLIN |
DUBLIN Aug 15 (Reuters) - Irish business services group DCC Plc (DCC.I)said on Friday it had agreed to buy Chevron's (CVX.N) British oil distributor business, which trades under the Texaco brand, for 27.52 million euros ($41 million).
"DCC Energy is already the largest oil distributor in Britain with annualised sales of approximately 3.2 billion litres and a market share of approximately 10 percent," DCC Chief Executive Tommy Breen said in a statement.
"The acquisition of the Texaco distribution business will bring significant further scale to DCC's oil distribution business in Britain and is consistent with our strategy of growing our presence in this market." (Reporting by Andras Gergely; Editing by Paul Bolding)
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