BP Japan sells retail assets to Japan Energy.

0 Comments | M2 Presswire, February, 2002

M2 PRESSWIRE-26 February 2002-BP: BP Japan sells retail assets to Japan Energy (C)1994-2002 M2 COMMUNICATIONS LTD RDATE:26022002 BP Japan announced today that it has agreed to sell its 21 service stations to Japan Energy. Subject to approval from the Japanese Fair Trading Committee, Japan Energy will integrate the former BP self-service stations into its existing network of more than 4,400 sites, around 145 of which have been converted to self-service over the past year.

The price for the transaction is not being disclosed but it is expected to be completed during the first half of 2002. BP's other operations in Japan - which include chemicals, gas and power, lubricants, marine, solar and trading - are not affected by this decision and the...