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BP Buys Britain’s Largest Electric Vehicle Charging Company

  • Oil major to pay 130 million pounds for the acquisition
  • Chargemaster has about 6,500 charging stations across Britain
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BP Plc plans to acquire the U.K.’s largest electric vehicle charging company, the latest in a string of acquisitions by major oil companies in the growing market for greener transport.

The British oil major entered into an agreement to buy Chargemaster, which has more than 6,500 charging points across the U.K., according to a statement Thursday. It will pay about 130 million pounds ($170 million) for the purchase, staying within the $500 million annual budget for clean energy, Tufan Erginbilgic, BP’s downstream chief executive officer, said in an interview.