Stonepeak and Energy Equation Partners to Acquire Majority Interest in JET from Phillips 66

Stonepeak and Energy Equation Partners to Acquire Majority Interest in JET from Phillips 66

LONDON & HOUSTON--(BUSINESS WIRE)--May 15, 2025-

Financial investors buy the fuel stations of the well-known German brand Jet. The former US owner Philips 66 is under pressure.

PE consortium acquires majority stake in Phillips 66 retail arm for $2.8bn - Private Equity Wire

Phillips 66 has agreed to sell a 65% stake in its German and Austrian retail fuel business to a private equity-led consortium comprising Energy Equation Partners and Stonepeak, in a transaction valuing the unit at $2.8nm, according to a report by Reuters. The deal comes as the US energy giant responds to mounting pressure from activist hedge fund investor Elliott Investment Management to streamline operations and unlock shareholder value. The sa…