Global private equity firm Kohlberg Kravis Roberts and PetroChina are believed to be lining up to buy Woolworths (WOW) petrol stations in the event the deal the supermarket group has on the table with BP will collapse. BGH Capital — the fund started by former TPG Capital Australia boss and partner along with former Macquarie investment banking boss — may also be in the mix, according to the article. The Australian Competition and Consumer Commission has taken exception with the planned sale of the 531 petrol stations Woolworths owns to BP for $1.8 billion, arguing that it would lessen competition and have an impact on petrol pricing. BP has been contemplating a move to take the competition watchdog to court in a further attempt to gain ownership of the assets. Source: www.theaustralian.com.
Subscribe to our free mailing list and always be the first to receive the latest news and updates.