Galp's Downstream Talks Might Increase Buyout Likelihood -- Market Talk

Dow Jones01-08

0903 GMT - The main takeaway from Galp's talks to combine its downstream operations with those of Spanish peer Moeve might be that a buyout of the Portuguese energy company seems more likely, RBC Capital Market's Biraj Borkhataria and Adnan Dhanani say. Galp reached a deal with Moeve to advance discussions to combine their downstream activities into two separate companies focused on retail and industrial operations, respectively. "Without financial details, it is difficult to assess the merits of the deal for Galp," RBC says in a research note. From the market's perspective, though, the main conclusion might be that a potential deal would leave Galp with a slimmed-down portfolio focused on upstream, trading and renewables, removing one of the perceived barriers to a potential takeover, the analysts say. Galp shares rise 1.2%. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

January 08, 2026 04:03 ET (09:03 GMT)

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Galp reached a deal with Moeve to advance discussions to combine their downstream activities into two separate companies focused on retail and industrial operations, respectively. \"Without financial details, it is difficult to assess the merits of the deal for Galp,\" RBC says in a research note. From the market's perspective, though, the main conclusion might be that a potential deal would leave Galp with a slimmed-down portfolio focused on upstream, trading and renewables, removing one of the perceived barriers to a potential takeover, the analysts say. Galp shares rise 1.2%. 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Galp reached a deal with Moeve to advance discussions to combine their downstream activities into two separate companies focused on retail and industrial operations, respectively. \"Without financial details, it is difficult to assess the merits of the deal for Galp,\" RBC says in a research note. From the market's perspective, though, the main conclusion might be that a potential deal would leave Galp with a slimmed-down portfolio focused on upstream, trading and renewables, removing one of the perceived barriers to a potential takeover, the analysts say. Galp shares rise 1.2%. 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