(Reuters) -French petroleum products distributor Rubis said on Tuesday that it was in "very preliminary" talks with what it called various industrial and financial counterparties and would consider
Rubis Engages in Early Talks with Industrial and Financial Partners
Rubis' Strategic Discussions
(Reuters) -French petroleum products distributor Rubis said on Tuesday that it was in "very preliminary" talks with what it called various industrial and financial counterparties and would consider any potential options that could arise.
Market Reaction to News
Rubis issued its statement after Bloomberg News reported on Friday that CVC Capital and Trafigura Group are separately considering offers for the French company.
Shareholder Dynamics
Rubis' shares, which rose 10% following the report, were down 0.2% at 0853 GMT on Tuesday.
CVC and Trafigura on Monday declined to comment on the report.
"The company states that, following the entry of new shareholders in the first quarter of 2024 and since the Shareholders' Meeting held in June 2024, it has been in contact with various industrial and financial counterparties," Rubis said in its statement.
Soon after becoming a Rubis shareholder, Compagnie Nationale de Navigation, controlled by French businessman Patrick Molis, in June last year requested a shake-up of Rubis' supervisory board, a proposal which was rejected.
(Reporting by Jakob Van Calster; Editing by Susan Fenton)
