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American Focus > Blog > Economy > Phillips 66 (PSX) Sells Majority Stake in European Fuel Retailer
Economy

Phillips 66 (PSX) Sells Majority Stake in European Fuel Retailer

Last updated: May 19, 2025 9:45 pm
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Phillips 66 (PSX) Sells Majority Stake in European Fuel Retailer
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Phillips 66 (NYSE:PSX) recently made headlines with the announcement of its agreement to sell a majority stake in its European retail marketing business. This strategic move is expected to bring significant benefits to the company and its shareholders.

Phillips 66 is a prominent integrated downstream energy provider that is involved in refining, transporting, and marketing fuels. The company has decided to divest a 65% interest in its Germany and Austria retail marketing business, which includes 843 JET-branded fuel stations, to a consortium backed by Energy Equation Partners and Stonepeak. The deal is valued at around $1.6 billion in pre-tax cash, which Phillips 66 plans to use for debt reduction and to enhance shareholder returns.

As part of the agreement, Phillips 66 will retain a non-operated 35% interest in the business through a newly formed joint venture. The company will also continue to supply fuel products from its MiRO refinery in Karlsruhe, Germany to the business under a multi-year contract. The transaction is expected to close in the second half of 2025.

Mark Lashier, the chairman and CEO of Phillips 66, expressed his views on the deal, stating, “This transaction advances our strategy to optimize our portfolio and enhances long-term shareholder value. The newly formed joint venture allows us to monetize this non-core asset while retaining the ability to benefit from its future growth.”

While Phillips 66 holds promise for growth, some investors may be inclined towards other opportunities in the market. For those seeking high returns with limited downside risk, exploring AI stocks could be a lucrative option. A report on the cheapest AI stock with 100x upside potential has been highlighted for investors to consider.

See also  Supply Chains and Protectionism - Econlib

In conclusion, Phillips 66’s decision to sell a majority stake in its European retail marketing business reflects its commitment to strategic portfolio optimization and creating long-term value for shareholders. As the company embarks on this new chapter, investors are encouraged to explore various investment opportunities, including AI stocks, to maximize their returns.

TAGGED:EuropeanFuelMajorityPhillipsPSXRetailerSellsstake
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