BP on Monday said it has agreed to sell its mobility, convenience and electric vehicle charging businesses in Austria to volenergy AG, as the energy major continues to streamline its downstream portfolio. Financial terms of the transaction were not disclosed.
The deal includes 250 BP-branded retail sites across Austria, around 115 of which are company-owned and franchise-operated, as well as the associated fleet business and electric vehicle charging infrastructure. Volenergy is part of Switzerland's Volare Group AG.
BP will sell its entire stake in BP Retail Austria GmbH through a share sale. The transaction also includes the company's interests in three non-operated joint ventures: Erdol-Lagergesellschaft mbH, Autobahn-Betriebe Gesellschaft mbH and TLM Tanklager Management GmbH in Linz.
The London-based oil major said the sale supports its strategy of becoming a "simpler, stronger and more valuable company" through disciplined capital allocation.
Interim Executive Vice President for Downstream Richard Harding said: "By concentrating our capital on the assets and markets where BP can be most competitive and best serve customers, we are strengthening our balance sheet and creating a stronger downstream portfolio."
Head of Country Austria Melanie Milchram-Pinter said BP had built "a strong mobility and convenience business in Austria over many decades" and that volenergy was "well placed to take it forward."The transaction is expected to complete by the end of 2026.
Full story BP agrees sale of Austrian retail business to volenergy | AJ Bell
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