9/8/2021 | Mergers and acquisitions

Galp reinforces electric mobility leadership in Portugal through the acquisition of Mobiletric

Galp has agreed to acquire the entire share capital of Mobiletric, one of the key operators in the electric mobility sector in Portugal, particularly in fast and ultra-fast electric charging.

With this acquisition, Galp adds 280 charging points to its network in the short term, most of them already in operation, as well as a solid portfolio of planned charging points which will enable rapid growth prospects.

The transaction – combined with Galp network’s strong organic growth – will allow the number of charging points managed by the Company in Portugal to double to more than 1,000 points in operation by the end of 2021, from 513 at the end of 2020.

As part of Galp’s growth plan to thrive through the transition into a more sustainable energy model, the acquisition of Mobiletric is a relevant step towards Galp's goal of reaching 10,000 charging points in Iberia by the end of 2025.

The conclusion of the agreement is conditional to normally applicable regulatory approvals.