Phillips 66 sells majority stake in European fuel retailer for $1.6 billion

From Yahoo Finance: 2025-05-18 22:36:00

Phillips 66 (PSX) has sold a majority stake in its European retail marketing business, including 843 JET-branded fuel stations, for around $1.6 billion. The deal, expected to close in the second half of 2025, will see a consortium backed by Energy Equation Partners and Stonepeak take over. Phillips 66 will retain a 35% interest. CEO Mark Lashier sees the move as optimizing their portfolio for long-term shareholder value.



Read more at Yahoo Finance: Phillips 66 (PSX) Sells Majority Stake in European Fuel Retailer