BP has announced its decision to divest its retail and electric vehicle charging operations in Austria. The British energy major is selling its domestic infrastructure, which includes a comprehensive network of gas stations and the associated charging network, to the Swiss-based energy company Volenergy.
Strategic Shift in the Alpine Region
While BP continues to invest in charging infrastructure globally, this move represents a consolidation of its European footprint. The acquisition by Volenergy will see the Swiss company take over all existing BP-branded sites across the country, significantly expanding Volenergy's presence in the Austrian market.
The financial terms of the transaction have not been disclosed. However, both parties have indicated that the deal is expected to be finalized by the end of 2024, subject to regulatory approvals.
