INDUSTRIAL holding company DCC is continuing its strategy of buying out minority share holdings in its subsidiary companies, with the acquisition of the outstanding 11.4 per cent of Emo Oil for £1.55 million.

DCC has bought the shares from the Emo founder shareholders and the consideration is being met through the issue of 661,134 shares at 235p per share. The vendors have given an undertaking to hold these shares for at least the next two years.

Emo is part of an energy division where DCC is currently in the process of buying out the minority shareholders in LPG distribution group Flogas for a net £28.5 million. Emo is involved in oil importation and distribution in the Republic and Northern Ireland and has net cash of £4 million.