{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-120396","form_type":"8-K","ticker":"PSX","cik":"0001534701","company_name":"Phillips 66","filed_at":"2025-05-15T23:59:59+00:00","discovered_at":"2026-05-14T18:02:48.669038+00:00","generated_at":"2026-05-21T04:55:48.086746+00:00","sec_items":["8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Phillips 66 to divest 65% stake in Germany/Austria JET retail for ~€2.5B enterprise value","bullets":["Enterprise value ~€2.5B ($2.8B); pre-tax cash proceeds ~€1.5B ($1.6B) after adjustments.","Implied EV/EBITDA multiple of 9.1x based on expected 2025 EBITDA.","Phillips 66 retains a non-operated 35% interest in the new joint venture.","Includes 970 sites (843 JET-branded); expected close in second half of 2025.","Proceeds to be used for debt reduction and shareholder returns; multi-year supply agreement with MiRO refinery."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-120396","json":"https://secwatch.observer/filing/0001193125-25-120396.json","markdown":"https://secwatch.observer/filing/0001193125-25-120396.md","text":"https://secwatch.observer/filing/0001193125-25-120396.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1534701/000119312525120396/0001193125-25-120396-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1534701/000119312525120396/d834733d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-21T04:55:48.086746+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}