Stonepeak and Energy Equation Partners (EEP), an investment firm with significant expertise in fuel retail, have acquired a 65 percent interest in JET Tankstellen Deutschland from a subsidiary of Phillips 66.
JET is one of the largest fuel retailers in Germany and Austria, serving more than 700,000 customers daily through a network of 970 service stations. Located primarily in urban and high-traffic areas, JET also operates convenience stores, car washes and a rapidly growing electric vehicle charging network. The company has been named Germany’s most popular gas station brand by YouGov Deutschland for 15 years in a row.
The deal, which was previously announced in May, gives JET an enterprise value of approximately €2.5 billion ($3 billion).
“The completion of this transaction marks an important step forward for JET,” said
