Galp and Moeve negotiate potential merger of downstream operations

The talks center on developing two new integrated platforms: IndustrialCo and RetailCo. IndustrialCo will include Galp and Moeve’s refining, trading, chemical, and lower-carbon fuel-related operations. RetailCo will include its respective retail fuel business, including EV-charging station development. The combined entity will operate approximately 3,500 retail fuel service stations in Iberia. The talks are non-binding and contingent upon completion of extensive due diligence, receipt of corporate approval, and regulatory consent. Moeve has developed the Andalusian Green Hydrogen Valley. Galp has developed several renewable-fuel-related initiatives. Quote: "The parties’ talks center on developing two new integrated platforms — IndustrialCo and RetailCo — each focused on consolidating and expanding their presence throughout the Iberian Peninsula." Quote: "IndustrialCo will include Galp and Moeve’s refining, trading, chemical, and lower-carbon fuel-related operations." Quote: "Meanwhile, RetailCo will include its respective retail fuel business, including EV-charging station development." Quote: "Together, the two companies own or operate approximately 3,500 retail fuel service stations in Iberia" Quote: "Both companies emphasize that the talks continue to be non-binding and contingent upon completion of extensive due diligence , receipt of corporate approval, and regulatory consent." Quote: "Moeve has developed the Andalusian Green Hydrogen Valley, one of the largest hydrogen projects in the region." Quote: "Galp has developed several renewable-fuel-related initiatives"