Stonepeak and Energy Equation Partners to Acquire Majority Stake in JET from Phillips 66 in €2.5 Billion Deal

Reuters
05-15
Stonepeak and Energy Equation Partners to Acquire Majority Stake in JET from <a href="https://laohu8.com/S/PSX">Phillips 66</a> in €2.5 Billion Deal

Stonepeak and Energy Equation Partners $(EEP)$ have announced an agreement to acquire a majority interest in JET Tankstellen Deutschland GmbH, a leading fuel retailer in Germany and Austria, from Phillips 66. The transaction, which values JET at approximately €2.5 billion, will see Phillips 66 retain a 35% minority interest in the company through a new joint venture. Stonepeak and EEP aim to support JET's growth in fuel and non-fuel retail across both countries. The transaction is expected to close in the second half of 2025, pending regulatory approvals.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Phillips 66 published the original content used to generate this news brief via Business Wire (Ref. ID: 20250514028223) on May 15, 2025, and is solely responsible for the information contained therein.

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