The future of Jet petrol stations in Germany and Austria has been clarified since Friday. The American oil company Phillips 66 sold its network to a consortium of financial investors.
The Jet petrol stations are therefore sold for around 2.5 billion euros. The American oil company Phillips 66, which is under pressure from the Elliott Hedgefonds, has sold its network of 970 gas stations – 843 of which under the name JET to the investment companies Energy Equation Partners and StonePeak.
Phillips 66 retains 35 percent of the shares
Phillips 66 collects 1.5 billion euros and holds 35 percent of the shares. The gas stations, which would deliver 275 million euros in operational profit this year, were not part of the core activities. They must remain supplied from the Karlsruhe Miro refinerie of Phillips 66.
The company of the Houston company in Texas gave one percent at $ 123.57 on Friday. The analysts of TD Cowen criticized that Phillips 66 did not fully give the gas stations.
Other oil companies have also been separated from their gas station in Germany in recent years. The “Esso” gas pumps from ExxonMobil went to the British retailer EG Group and the OMV petrol stations 2022 in 2017. In 2023, Canadian splitting took the “total” gas stations of the French total energy in Germany and the Netherlands for around $ 3.3 billion.
Source: Krone
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