Oct 14 (Reuters) - Phillips 66 will sell its 49%

non-operated equity interest in Coop Mineraloel AG to its Swiss

joint venture partner for $1.24 billion, the U.S. refiner said

on Monday.

The joint venture operates 324 retail sites and petrol

stations across Switzerland.

"This transaction marks significant progress in delivering

on our commitment of over $3 billion in divestitures," Phillips

66 CEO Mark Lashier said in a statement.

The company said it would receive $1.17 billion as sales

price and $70 million as assumed dividend for current year to be

paid at or prior to closing.

The transaction is expected to close in the first quarter of

2025.

(Reporting by Tanay Dhumal in Bengaluru; Editing by Sriraj

Kalluvila)