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."
Pinsent Masons is an international law firm with over 290 partners and more than 1000 lawyers who provide a full range of corporate and commercial services. The firm ranks amongst the top 100 global law firms.
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