DCC completes Swea Energi acquisition

 

Industrial services group DCC has completed its acquisition of Swedish fuel distributor Swea Energi.

Swea Energi, based near Gothenburg, distributes heating oils and transport fuels to domestic, commercial and industrial customers in Sweden.

In December, DCC said it would pay €22.7 million up front in cash for the business, with a further €6.6 million to be paid depending on the performance of the group between March next year and the end of March 2013, bringing the final cost to €29.3 million.

Shortly before 10.30am, DCC's share price rose by 1.7 per cent to €19.42.