Rubis Terminal to acquire TEPSA from Petrofrance.

Rubis Terminal, a joint venture between I Squared Capital, an international infrastructure fund manager, and Rubis, a French listed company specializing in the storage of petroleum products, agreed to acquire TEPSA, a Spain-based leading bulk liquid storage operator, from Petrofrance, which operates four coastal terminals. Financial terms were not disclosed. “This acquisition shows the strength of the partnership between a large industrial group and an independent, global infrastructure investment manager. We are growing the size of Rubis Terminal by a third, while diversifying its activity, and opening up to other very promising markets. This is just the start: we have great ambitions for our French company, Rubis Terminal, to join the world leaders in the sector in the months and years to come," Sadek Wahba, I Squared Capital Chairman and Managing Partner.