This morning we announce that DCC has entered into a definitive agreement for the sale of DCC Healthcare to Investindustrial, a leading European investment and advisory group. The proposed transaction values our Healthcare division at a total enterprise value of £1,050 million, on a cash-free, debt-free basis. The proposed transaction is subject to customary regulatory approvals and is expected to be completed in the third quarter of this calendar year.
This agreement follows the announcement last November of a significant strategic change for DCC, aimed at simplifying the Group and focusing on its Energy business.
The disposal of DCC Healthcare is a material step in simplifying DCC's operations and focusing on our high growth, high return, energy business. Our strategy will continue to build DCC as a market-leading multi-energy business. The profitable sale creates immediate value for our shareholders, and we are confident that Investindustrial will take DCC Healthcare forward in the best long‐term interests of its employees, customers and suppliers.
Donal Murphy
Chief Executive