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As part of a “broader plan to divest non-core assets,” U.S. refiner Phillips 66 has launched a process that could lead to the potential sale of its JET brand gas stations across 1,270 sites in Austria, Germany, and the U.K., reported Argus Media.
JET operated 813 gas stations in Germany as of June 2023, according to the country’s federal association of independent petrol stations, and 154 sites in Austria according to the company website.
The sale is expected to generate €3 billion (about $3.2 billion) and is part of a…