BP To Sell Greek Ground Fuels Mkting Operations For EUR359 Million
June 26 2009 - 12:51PM
Dow Jones News
BP PLC (BP.LN) has agreed Friday to sell its ground fuels
marketing business in Greece to Hellenic Petroleum for EUR359
million ($500 million) subject to various adjustments at
closing.
MAIN FACTS:
-The deal is subject to certain conditions, including regulatory
approvals, and is expected to be completed towards the end of the
year with the sale of BP Hellas shares.
-The sale covers the 1200 BP branded sites in the country
(mainly dealer owned), and the distribution network of fuel
deliveries to the sites and wholesale customers.
-BP will still have a significant presence in Greece as the
automotive, industrial and marine lubricants businesses, BP Solar
and Air BP will continue to operate as part of the BP Group.
-By London Bureau, Dow Jones Newswires; +44 (0)20 7842 9296; ian.walker@dowjones.com
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