BP agrees to sell Austrian businesses

UK-based BP has come to an agreement with volenergy AG to sell its Austrian mobility, electric vehicle (EV) charging and convenience businesses.

BP will sell its entire shareholding in BP Retail Austria GmbH. The deal covers 250 retail sites using the BP brand. Of these, 115 sites are owned by the company and operated under franchises. The rest function under various other models, such as company-owned unstaffed sites or dealer owned and operated sites. It also includes a related fleet business and interests in three joint ventures that are not operated by BP. It does not include the Castrol lubricant and coolant business or BP’s aviation operations.

The move reflects BP’s efforts to strengthen its capital allocation discipline. Similar sales of convenience and mobility businesses have already been announced for Türkiye, the Netherlands and Switzerland. BP’s interim downstream Executive Vice President (EVP), Richard Harding, said the company was focusing its assets on areas where it can best serve its customers and compete most effectively.

BP’s head for Austria, Melanie Milchram-Pinter, said:

“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.”

Subject to regulatory approval, the deal, for which the terms have been kept confidential, is expected to complete at the end of the year. A brand licence will then allow the Austrian retail sites to continue featuring the BP brand.

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