BP may sell German gas stations for $2.6 billion: report

VIENNA | Sat Jul 31, 2010 10:35am EDT

VIENNA (Reuters) - BP Plc is seeking to sell its German petrol station chain Aral for around 2 billion euros ($2.6 billion), German magazine Wirtschaftswoche reported on Saturday, citing investment bankers familiar with BP's plans.

BP last week unveiled plans to sell $30 billion of assets -- mainly upstream oil and gas fields-- over the next 18 months to cover costs related to the Gulf oil spill, the worst in U.S. history.

Wirtschaftswoche said France's Total, Russia's Rosneft and Avia, an independent chain of filling stations, were among the possible buyers. Rosneft would also be interested in BP's two German refineries, it said.

BP and Rosneft declined to comment on the story. An industry source said that a sale of Aral was unlikely because the chain was integrated into BP's refinery system and BP's asset sales were focused on oil and gas fields.

Aral is the market leader in Germany where around 2,400 filling stations operate under its brand, it says on its website. BP bought the chain in 2002 as part of a larger deal with German energy group E.ON.

(Reporting by Boris Groendahl and Tom Bergin; editing by Sue Thomas)

Related Quotes and News

Company
Price
Related News
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (1)
STORYBURN17 wrote:
German gas stations cannot be strategic to whatever BP sees itself as going forward

Jul 31, 2010 6:09pm EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.