LONDON (dpa-AFX) - British energy major BP Plc (BP, BP.L) Thursday announced its intention to sell its mobility & convenience business in Austria. The marketing process will begin immediately, with the aim of reaching sale completion by the end of 2025, subject to regulatory and all relevant approvals.
The potential sale includes all of bp retail sites across Austria, EV charging assets, the associated fleet business of bp in Austria, and bp's share in the company operating the Linz terminal non-operated joint venture or NOJV. Among the more than 260 bp retail sites, around 120 are company owned.
The company said the plan is in line with its strategy of focusing the downstream business, reshaping its portfolio to drive growth and improved performance.
Emma Delaney, EVP, customers & products at bp, said, 'Over recent years we have grown the business to become number two major branded retailer in the market. As bp now looks to focus downstream and reshape our portfolio, we believe that a new owner will be best placed to unlock the business's full potential.'
The decision follows bp's announcement last year that it is marketing its mobility & convenience business in the Netherlands. bp has earlier divested its retail businesses in Turkey in 2024 and Switzerland in 2022.
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