DCC completes €464m acquisition of gas firm Butagaz

Energy-to-technologies conglomerate DCC has completed its biggest-ever acquisition of French gas firm Butagaz from Shell for €464 million.

The deal received competition clearance at the beginning of September and has been consolidated in the results of the group from that date, DCC said in a statement today.

The company has been chasing a variety of assets being sold off by downsizing oil companies.

DCC, whose activities range from oil distribution to waste management, made an operating profit of £222 million in the year ended March 31st, with about 55 per cent coming from its energy business.