DCC buys Burmah Castrol fuel interest

Industrial holding company DCC has completed the acquisition of Burmah Castrol's fuel business (Burmah Ireland) in the Republic…

Industrial holding company DCC has completed the acquisition of Burmah Castrol's fuel business (Burmah Ireland) in the Republic. This follows clearance under the Mergers, Takeovers and Monopolies (Control) Act 1978. The consideration is €17.1 million (£13.5 million). Already €16.5 million has been paid. The final consideration will be determined following receipt of Burmah Castrol's balance sheet, as at January 31st, 1999. Burmah Ireland generated operating profits of €1.9 million (£1.5 million), on sales of €29 million (£23 million), in the year ended December 31st, 1997. DCC said management accounts show "good volume and profit growth in 1998".