Citadel Pacific Ltd. acquired 70% stake in Liquid gas distribution business in Hong Kong and Macau of DCC PLC (LSE:DCC) for approximately $110 million on July 11, 2024. A cash consideration of $105 million will be paid by Citadel Pacific Ltd on debt-free and cash-free basis.

For the period ending March 31, 2024, Liquid gas distribution business in Hong Kong and Macau of DCC PLC reported EBIT of $19.5 million. Hogan Lovells and Hogan Lovells Hong Kong led by Sarah Shaw, John Connell, Andrew McGinty and Louise Leung acted as legal advisor to DCC plc for the transaction.

Citadel Pacific Ltd. completed the acquisition of 70% stake in Liquid gas distribution business in Hong Kong and Macau of DCC PLC (LSE:DCC) on July 11, 2024.