Stonepeak and Energy Equation Partners to acquire a majority stake in JET from Phillips 66 for $1.6bn.

Investment firms Stonepeak and Energy Equation Partners agreed to acquire a majority stake in JET Tankstellen Deutschland, a fuel retailer in Germany and Austria, from Phillips 66, an American multinational energy company, for $1.6bn. “JET’s high-quality network of critical infrastructure assets is well positioned to continue reliably serving the needs of its customers over the long-term. Under Phillips 66’s ownership, JET has grown into one of the largest fuel retailers in Germany and Austria. We are excited to join forces with them, as well as Javed and the EEP team, who have long-standing experience investing in and operating retail fuel distribution and logistics globally, to support the next phase of JET’s growth,” Anthony Borreca, Stonepeak Senior Managing Director and Co-Head of Energy.