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DCC signs conditional agreement to acquire Shell Direct Austria GmbH for EUR18.3m

Posted on: Tue, 10 Nov 2009 10:26:00 EST

Symbols: DCCPF

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Nov 10, 2009 (M2 EQUITYBITES via COMTEX) --
DCCPF | Quote | Chart | News | PowerRating -- Business support services group DCC plc (LSE:DCC) (Dublin:DCC) signed a
conditional agreement with Shell Austria for the acquisition of Shell
Direct Austria GmbH (SDA) on a cash free / debt free basis, net of a
working capital adjustment at the date of completion for EUR18.3m.

DCC's net consideration payable to Shell Austria will be satisfied in
cash

Austria fuel distributor with market share of approximately 11%, SDA
sells around 630m litres of transport fuels and heating oils to
domestic, commercial, agricultural and industrial customers. With 152
staff and approximately 60,000 customers, its net tangible operating
assets at completion will be approximately EUR2.1m, stated DCC.

DCC and Shell in Austria further agreed to a long term supply
arrangement and SDA will operate as a Shell branded distributor post
acquisition. The transaction which is expected to close in January 2010
is subject to competition clearance from the European Commission as
well.A

SDA did not report its financial results as per the supply arrangement
under DCC's ownership, being an integral part of the Shell supply chain
and its return on capital is expected to be commensurate with that
achieved in DCC's other businesses, in the first full financial year of
ownership.

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