DCC is to acquire Statoil's industrial LPG business in Sweden and Norway for approximately €11m.
As part of the transaction DCC will enter into long-term LPG supply contracts with Statoil ASA, conditional upon regulatory approval.
Pending such approval it is expected the acquisition will be completed in late 2012 / early 2013.
DCC describes SFR LPG as the leading distributor of bulk LPG to industrial and commercial customers in Sweden and Norway.
It employs 20 staff and sells approximately 260,000 tonnes of LPG per annum. It is planned to re-brand the business as Flogas.
Tommy Breen, DCC CEO said that the planned acquisition is an important step in DCC Energy's expansion beyond Britain and Ireland.
"Together" he said "with our existing oil distribution businesses in Denmark and Sweden, this acquisition significantly increases the scale of DCC Energy's activities in Scandinavia.
