BP to Divest Netherlands-Based Retail & EV Businesses to Catom

BP plc BP has entered into an agreement to divest its mobility and convenience, as well as bp pulse, businesses in the Netherlands to Catom.

The divestment, expected to be completed by 2025-end, is part of BP’s previously announced $20 billion divestment program. During its February strategy update, BP announced a divestment target while also aiming to reduce its debt and boost cash flow. The company claimed a renewed focus on fossil fuels, aiming to rebuild investor confidence following its unsuccessful venture into the renewable sector.

The deal involves around 300 retail sites owned or branded by BP, some of which have on-site EV charging infrastructure. It also involves 15 active bp pulse EV charging hubs, eight currently being developed, and BP’s associated fleet business in the Netherlands.

Based in the Netherlands, Catom is a rapidly expanding player in the trade, distribution and sale of fuels and lubricants. With the latest acquisition, Catom will expand its OK retail network to more than 400 retail sites in strategic locations across the country.

Catom was selected as the successful bidder with the best overall offer, including long-term plans for the business. With this acquisition, Catom is on track to become the number one brand in its industry in the Netherlands.

The transaction adds to BP’s ongoing portfolio reshaping, which has already included the divestment of U.S. midstream assets, the sale of its interests in Canadian oil sands and its exit from retail operations in select Asian markets. BP previously announced its plans to generate asset sales worth $3-$4 billion in 2025. Per its first-quarter 2025 results, $1.5 billion worth of deals had already been signed or completed.

No financial details have been disclosed, pending regulatory approvals. Notably, the deal will significantly contribute toward BP’s 2025 annual divestment target and long-term restructuring strategy.

The deal highlights the ongoing consolidation trend in Europe’s downstream sector, where smaller regional firms like Catom are capitalizing on scale and regional adaptability to expand both across fossil fuel and EV infrastructure markets. For BP, this marks continued progress in its strategic shift away from localized retail operations as it pivots toward more scalable, integrated energy solutions.

BP Stock Price Performance

Shares of BP have gained 17.6% in the past three months compared with the industry’s 13% growth.

BP’s Zacks Rank & Key Picks

BP currently carries a Zack Rank #3 (Hold).

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This article originally published on Zacks Investment Research (zacks.com).

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