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EG reportedly considering Caltex Australia bid

Caltex Australia may have another takeover bid to contend with, according to Bloomberg.

The media group have reported that the UK’s EG Group are potentially considering a takeover bid. According to the news, EG are currently working with a financial advisor to evaluate the viability of the bid.

At this stage there is no move by EG to put forward a firm bid, Bloomberg report.

The news comes after Caltex avoided an $8.6 billion takeover bid from conglomerate Couche-Tard last year.

Caltex had previously announced plans to float a 49% stake in 250 retail sites, with the view to put these to long term lease agreements. It was also reported last month they had sold off 25 mainly inner city petrol stations to the tune of $136 million.

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