Business services group DCC has completed the acquisition of a Netherlands-based liquid petroleum gas (LPG) business.
The Dublin-listed energy and distribution group paid some €24.5 million for BP’s LPG distribution business in the Netherlands and Belgium, which trade under the name Benegas.
The companies supply LPG to industrial, commercial and domestic customers and employ 44 people.
Benegas’s adjusted gross tangible operating assets were approximately €15.4 million at the end of 2011, and it generated an adjusted operating profit of €4 million in the period.
The deal was announced in September and had required approval from competition regulators in the Netherlands.
The move expands DCC’s presence in the Benelux region. Earlier this year, DCC announced it was buying BP’s LPG business in Britain in a €50 million deal.
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