Core Viewpoint - BP plc is divesting its mobility and convenience, as well as bp pulse businesses in the Netherlands to Catom as part of a $20 billion divestment program aimed at reducing debt and refocusing on fossil fuels [1][2][9]. Group 1: Divestment Details - The divestment is expected to be completed by the end of 2025 and includes around 300 retail sites and 15 active bp pulse EV charging hubs, along with eight additional hubs under development [2][3][9]. - Catom, a rapidly expanding player in the fuel and lubricant distribution sector, will expand its OK retail network to over 400 sites in the Netherlands with this acquisition [4]. Group 2: Strategic Implications - This transaction is part of BP's ongoing portfolio reshaping, which has included divestments in U.S. midstream assets and Canadian oil sands, with a target of generating $3-$4 billion in asset sales by 2025 [5][6]. - The deal reflects a broader trend of consolidation in Europe's downstream sector, where smaller firms like Catom are leveraging scale and adaptability to grow in both fossil fuel and EV infrastructure markets [7]. Group 3: Financial Performance - BP's stock has increased by 17.6% over the past three months, outperforming the industry average growth of 13% [8].
BP to Divest Netherlands-Based Retail & EV Businesses to Catom