Galp and Moeve fail to reach deal to merge refining and distribution

FinanceInternationalEuronews.comOct 26, 2026, 6:28 AM40 s readAI summary

Galp confirmed in a statement that, after several months of negotiations, "it was not possible to reach an agreement" with the shareholders of Spain's Moeve, Mubadala Investment Company and Carlyle, to combine their downstream, refining and distribution businesses. The Portuguese oil company said the outcome does not affect its operations. Moeve CEO Maarten Wetselaar said the combination was an opportunity to accelerate value creation but that it never depended on it. Galp also reported net profit of 682 million euros in the third quarter, up 68% year on year.

In 40 seconds

Galp and Moeve's shareholders failed to reach a deal to merge their refining and distribution businesses.
Galp says the failure has no implications for its operations or its confidence.
Moeve keeps its focus on its transformation with financial discipline.

Read the full story at Euronews.com

IASummary generated by artificial intelligence from a story by Euronews.com. It may contain errors: the original source prevails.

Galp
Moeve
energía
fusiones
resultados

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Galp and Moeve fail to reach deal to merge refining and distribution

In 40 seconds

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