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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