It certainly was an eventful and successful year for BHP Group Ltd (ASX: BHP).
The Big Australian's shares recorded a 10% gain over the 12 months.
But, as you can see below, it certainly wasn't a smooth ride for the BHP share price.
Here are three pivotal moments impacting BHP shares last year.
Image source: Getty Images
BHP scraps UK listing
The first pivotal moment in 2022 was in January when BHP shareholders voted overwhelmingly in favour of its unification.
The BHP board believed that unification was in the best interests of shareholders as it would result in a corporate structure that is simpler and more efficient, reduce duplication, and streamline governance and internal processes.
It also expected the unified structure to improve flexibility for portfolio reshaping to maximise shareholder value over the long-term. This leads us onto pivotal moment two.
Petroleum demerger
Following the unification, BHP decided to push ahead with the demerger of its petroleum business to Woodside Energy Ltd (ASX: WPL).
BHP's CEO, Mike Henry, explained the rationale for the divestment. He said:
Merging our petroleum business with Woodside creates a large, more resilient company, better able to navigate the energy transition and grow value while doing so. Through the merger we will provide value and choice for BHP shareholders, and unlock synergies in how these assets are managed.
The fact that the BHP share price still outperformed the market despite divesting a large portion of its business demonstrates just how successful its year was.
OZ Minerals acquisition
A final pivotal moment came at the end of the year when the mining giant announced an agreement to acquire OZ Minerals Ltd (ASX: OZL) for $9.6 billion.
While the deal is yet to complete, if it does, BHP's CEO, Mike Henry, expects it to unlock opportunities that wouldn't otherwise be possible. He commented:
The combination of BHP and OZL's assets, skills and technical expertise provides a unique opportunity not available under separate ownership, with complementary resources including the Oak Dam exploration prospect and existing facilities within close proximity, backed by BHP's strong balance sheet, capital discipline and commitment to sustainable development.
Here's hoping that 2023 will be equally successful for BHP shares and shareholders.
