BB Energy announces sale of Hypco Turkey

BB Energy today announced that it has completed the sale of Hypco Turkey to CUSTOS (CGA FZCO).

This announcement aligns with BB Energy’s strategy to focus its distribution activities on areas of the downstream value chain that offer the strongest synergies with its core trading activities.

BB Energy has operated in Turkey for more than 30 years and remains committed to its presence and wider activities in Turkey. This transaction does not signal an exit from the country and the company is committed to growing its core trading business, in partnership with local counterparties.

Under the agreement more than 100 service stations across Turkey are transferring to the new owners, who will be able to continue to use the Hypco brand for a period of up to five years.

Bashir Bassatne, BB Energy’s Head of Downstream said: “This announcement represents a milestone as BB Energy continues to sharpen its downstream footprint, prioritising activities where its market reach and trading expertise create most value for our wider business.”

“Again this is by no means an exit for our group from Turkey. BB Energy has been here for a long time, and we intend to stay. Turkey will always be a strategic market for us”

“We are proud that the Hypco brand, established in Lebanon in 1965 with a heritage spanning over 50 years, has built a strong presence in Turkey over the past decade under BB Energy’s ownership. Under the leadership of Hatice Tulum, Hypco Turkey has become a significant presence across the country’s road network through its strong commitment to operational excellence, customer service and sustainability.”