bp plc (London, England) has completed the sale of its Gelsenkirchen refinery and related businesses to Klesch Group (London, England). Richard Harding, interim executive vice president of Downstream at bp (London, England), said: “This deal strengthens our balance sheet and simplifies our portfolio. Based on historical performance, the transaction is free cash flow accretive and transfers the associated assets and liabilities to Klesch Group (London, England). With its refining experience and established presence in Germany, Klesch Group is well placed to take Gelsenkirchen into its next chapter. Employees at the refinery and in the associated businesses have transferred to Klesch Group as part of the transaction.