BP has agreed to sell its mobility, convenience and electric vehicle charging businesses in Austria to Volenergy AG as part of its effort to simplify its portfolio and strengthen its balance sheet.
The transaction includes 250 BP-branded retail locations across Austria. Approximately 115 of the sites are company-owned and operated by franchisees.
Volenergy will also acquire BP’s Austrian EV charging infrastructure and the associated fleet business.
Financial terms of the transaction were not disclosed.
The sale supports BP’s strategy of concentrating capital on businesses and markets where it believes it can generate stronger returns and maintain a competitive position.
Following completion, the Austrian retail locations will continue operating under the BP brand through a licensing agreement. This structure will allow Volenergy to operate the sites while retaining the established BP identity.
The companies expect the transaction to close by the end of 2026, subject to regulatory approvals and other customary closing requirements.
BP said it will focus on supporting employees and maintaining safe and reliable customer service during the transition.
KEY QUOTES:
“By concentrating our capital on the assets and markets where BP can be most competitive and best serve customers, we are strengthening our balance sheet and creating a stronger downstream portfolio.”
Richard Harding, Interim Executive Vice President of Downstream at BP
“BP has built a strong mobility and convenience business in Austria over many decades and we believe Volenergy AG is well placed to take it forward.”
“Our priority now is to support our people, keep serving customers safely and reliably, and manage the transition well.”
Melanie Milchram-Pinter, Head of Country Austria at BP
