Caltex Woolworths

Caltex interest in Woolworths’ fuels business confirmed

IMG_7695 Caltex petrol price board DETAILFollowing weeks of media speculation, Caltex Australia Ltd has today confirmed that it made a conditional and confidential proposal to Woolworths to acquire its fuels business and continue the successful fuel alliance.

In an ASX Release Caltex noted Woolworths previous announcement that it had received incomplete and conditional proposals from a number of parties to purchase its fuels business.

As the sale process is ongoing, and any transaction remains uncertain, and is expected to take time to complete, the statement advises that Caltex will update the market as appropriate if there are any material changers to Caltex’s existing wholesale supply arrangements with Woolworths.

Caltex is currently the exclusive supplier of petrol and diesel to Woolworths with annual sales volumes of approximately 3.5 billion litres per annum, which is linked to Woolworths’ continued ownership of the business.

The potential sale of the Woolworths $1.5 billion petrol portfolio will be subject to scrutiny by the Australian Competition and Consumer Commission (ACCC).

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