Chevron Limited has announced it is selling its UK equity distributor
business to GB Oils Ltd for £21.9m.
The deal by Chevron, an indirect, wholly-owned subsidiary of Chevron Corporation, is expected to be completed by the end of this month.
GB Oils, a subsidiary of DCC Plc, will assume ownership of a number of fuels, lubricants and fuel card businesses.
The trading names of these businesses include Bates & Hunt, James D Johnson, Team Flitwick, GE Stevens, Able Energy, Vectis Oils, OJ Williams and Owen Fuels.
A supply agreement will also allow GB Oils to use the Texaco brand.
See story below.