French firm buys out regional fuel supplier

(CNS Business): International petroleum distributor Rubis has bought the Chevron's fuel distribution in the Cayman Islands, as well as in the Bahamas and the Turks & Caicos. In a press release about the acquisition Tuesday the firm said the purchase includes a retail network of 39 service stations under the Texaco brand, as well as commercial and aviation supplies. It will place the firm in the lead in each of the countries with an average market share of 45%. There are no indications yet how the sale will directly impact the local fuel supply or the owners of the Texaco branded gas stations in the Cayman Islands. (Photo Dennie WarrenJr)

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