Phillips 66 completes sale of majority interest in Germany and Austria retail marketing business
Phillips 66 (PSX)
Last phillips 66 earnings: 5/1 07:00 am
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Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) today announced it has closed the sale of a 65 percent interest in its Germany and Austria retail marketing business to a consortium owned by subsidiaries of Energy Equation Partners and Stonepeak. Phillips 66 will retain a 35 percent non-operated interest in the new joint venture company which will hold the retail marketing business.“We are executing with discipline and a clear strategy to create long-term shareholder value,” said Mark Lashier, chairman and CEO of Phillips 66. “This transaction strengthens the balance sheet and optimizes our portfolio by monetizing non-core assets at attractive valuations."Lashier added, “Since 2022 we have sold over $5 billion in assets and enhanced our position in the U.S. Central Corridor and Gulf Coast.”The transaction values the Germany and Austria retail marketing business at an enterprise value of approximately €2.5 billion (approximately $2.8 billion). At closing, Phillips 66 received appr
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News
- Phillips 66 (NYSE:PSX) had its "neutral" rating reaffirmed by analysts at Piper Sandler.MarketBeat
- A Look at Phillips 66's Valuation Following Strong Third-Quarter Results and Refining Profit Turnaround [Yahoo! Finance]Yahoo! Finance
- Stonepeak and Energy Equation Partners Complete Acquisition of Majority Interest in JET [Yahoo! Finance]Yahoo! Finance
- Phillips 66 completes sale of majority interest in Germany and Austria retail marketing business [Yahoo! Finance]Yahoo! Finance
- Stonepeak and Energy Equation Partners Complete Acquisition of Majority Interest in JETBusiness Wire
PSX
Earnings
- 10/29/25 - Beat
PSX
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- 12/2/25 - Form 4
- 12/1/25 - Form 4
- 12/1/25 - Form 144
- PSX's page on the SEC website