DCC plc Divests Stake in Asian Market

DCC plc (GB:DCC) has released an update.

DCC plc has sold a majority stake in its Hong Kong & Macau liquid gas operations to CITADEL Pacific Ltd for an initial valuation of approximately $150 million, retaining a minority interest that allows them to benefit from the merged operations. The deal, which represents about 2% of DCC’s annual operating profit, aligns with the company’s strategy to focus on cleaner energy in Europe and North America. The sale is expected to yield a modest exceptional profit in the following financial year.

For further insights into GB:DCC stock, check out TipRanks’ Stock Analysis page.