DATS 24, a network of 144 petrol stations in Belgium belonging to Colruyt Group, will be transferred to Belgian energy company Virya Energy. The two companies have reached an agreement for the full transfer of assets to complete the sale.
Virya Energy was created at the end of 2019 by Colruyt Group and Korys, the investment company of the Colruyt family. Virya owns significant stakes in offshore wind farms.
"In a rapidly changing energy market with an increasing emphasis on sustainable energy, both parties will be able to pool their energy expertise and support each other across the entire value chain," DATS 24 explained in a press release. "Colruyt Group intends to offer its customers sustainability in four areas, one of which is energy."
The company says that Colruyt will now centralise all its energy activities within Virya Energy. DATS 24 will still be part of the Colruyt "ecosystem" and included on Colruyt's Xtra fuel app.
DATS 24 was valued at €56 million at the time of sale but may receive an additional €11 million during the sale. The sale should have a significant impact on Colruyt's financial results for 2023-2024.
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From June 2023, DATS 24 will therefore no longer be fully integrated into Colruyt Group, but rather Virya Energy. "This means that the results of DATS 24 will be accounted for through Virya Energy in the consolidated figures of Colruyt Group according to the equity method," the group explained.
The transaction does not include the group's activities in the French market.
