Distribution group DCC (DCC) has snapped up Esso’s unmanned and motorway retail petrol station network in France for €106m. The deal, which is DCC's biggest-ever acquisition is expected to complete in the first half of 2015.
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The deal gives DCC a 4 per cent share of the French market and is its second big acquisition of European unmanned retail petrol stations following the acquisition of Sweden's Qstar in May.
Analysts at JPMorgan say DCC's unstretched balance sheet gives it considerable firepower and further acquisitions may be on the cards. "We think DCC Energy has considerable opportunity to purchase further assets from the energy majors in Continental Europe as they look to dispose of non-core businesses."
