DCC shares raises €270m

International sales, marketing and distribution business DCC yesterday raised more than €270m in a share placing, on the same day it announced bigger-than- expected earnings growth and its largest ever acquisition.

The company with operations across Europe issued 4.2 million shares at a price of £47 (€65) per share, in part, to finance the acquisition of France’s second largest LPG provider.

DCC Energy’s purchase of Butagaz from Shell in a deal worth €464m would represent the largest ever completed by the company and a major step forward in the continuing expansion of its liquefied petroleum gas business.