Rubis rises on Rubis Terminal disposal talks
Corrects index in the last bullet to SBF 120 not French blue chips index
** Shares in Rubis RUBF.PA rise around 2.6% after the French liquid products distributor said it entered into exclusive negotiations with I Squared Capital for the sale of its 55% stake in the JV Rubis Terminal for 375 million euros ($409.84 million)
** The company said it would return the 75 million euros generated from the sale through an exceptional dividend of 0.75 euros per share
** This follows the 2020 disposal of its 45% stake in the terminal to the same buyer
** Portzamparc's Nicolas Royot notes Rubis Terminal was no longer the company's core business
** The analyst adds the 300 million remaining after the dividend payout will help finance the development of the company's energy transition
** The stock is among top gainers on French SBF120 index .SBF120
($1 = 0.9150 euros)
Reporting by Michal Aleksandrowicz
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