Galp announced the end of negotiations with Moeve for a possible combination of fuel refining and marketing business, as no agreement was reached between the parties. The decision does not affect the current operations of the company, which maintains the commitment to the transformation of the sector.
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26/10/2026
by
Lusa
Galp and Moeve
ANDm reported, the Portuguese oil company explained that, following the non-binding agreement announced on 8 January with Moeve’s shareholders, Mubadala Investment Company and Carlyle Group, the parties maintained in-depth negotiations, but failed to reach an understanding to implement the operation.
Galp also ensured that the end of the negotiations will have no impact on its current operations “nor on the company’s confidence in the potential to create autonomous value of its downstream portfolio”, refining and marketing businesses, maintaining the commitment to the transformation of industrial and commercial activities and opening up to future opportunities for consolidation of the sector.