Pinsent Masons advises GB Oils Limited on £21.9 million acquisition of Chevron Limited UK 'equity distributor' business

26 Aug 2008 | 06:06 am | 1 min. read

International law firm Pinsent Masons has advised GB Oils Limited, a subsidiary of DCC plc, on the £21.9 million acquisition of the trade, assets and goodwill of the Chevron Limited UK "Equity Distributor" business.

The Chevron Limited UK "Equity Distributor" business, trading under the Texaco brand, distributes transport fuels and heating oils to commercial, industrial, agricultural and domestic customers principally in southern England and Wales. GB Oils has also agreed to enter into a long term supply arrangement with Chevron.

The Pinsent Masons team advising GB Oils Limited was led by Corporate Partner Andrew Kerr, with support from Catherine Hemsworth, Manisha Patel (Corporate) , Ian McKie (OTC), Louise Bloomfield, Jenny Wilson (Employment) and David Bowman (Property).

Tommy Breen, Chief Executive of DCC plc, said: "DCC Energy is already the largest oil distributor in Britain with annualised sales of approximately 3.2 billion litres and a market share of approximately 10%. The acquisition of the Texaco distribution business will bring significant further scale to DCC's oil distribution business in Britain and is consistent with our strategy of growing our presence in this market."

Commenting on the deal Catherine Hemsworth said: "We are delighted to have advised GB Oils Limited on this strategically important acquisition and we wish them all the best for the future."

For further information please contact:

Unni Schmidt
PR Adviser
Pinsent Masons,
[email protected]
DDI: 020 7418 7009
Mob: 07824 569324

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