Galp and Moeve end negotiations to merge refining and marketing businesses

Galp has announced the termination of negotiations with Moeve regarding a potential merger of their refining and fuel marketing businesses due to a lack of agreement. Despite extensive discussions following a non-binding agreement with Moeve's shareholders, no consensus was reached. Galp emphasized that this decision will not affect its current operations or its confidence in the value creation potential of its downstream portfolio, reaffirming its commitment to industrial and commercial transformation and future consolidation opportunities in the sector.