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International law firm Freshfields Bruckhaus Deringer has advised global energy company BP on the sale of its ground fuels marketing business in Greece to energy group Hellenic Petroleum for approximately €359m, subject to various adjustments at closing. The deal is subject to certain conditions, including regulatory approvals, and is expected to be completed towards the end of the year with the sale of BP Hellas shares. The sale covers the 1,200 BP branded sites in the country, and the distribution network of fuel deliveries to the sites and wholesale customers. BP will still have a significant presence in Greece as the automotive, industrial and marine lubricants businesses, BP Solar and Air BP will continue to operate as part of the BP Group. Freshfields’ team was led by corporate partners Sebastian Lawson and Pratap Amin, working with corporate associate Ned Staple.
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