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.
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