MAY 22, 2014
AAP
CALTEX Australia will sell four petrol stations to win approval for its $95 million takeover of petrol retailer and distributor Scott’s Group.
The Australian Competition and Consumer Commission (ACCC) had raised concerns the takeover would allow Caltex to control petrol retail in Mount Gambier in South Australia and Nhill in Victoria.
Caltex has agreed to sell three service stations in Mt Gambier and one in Nhill in order to win the ACCC’s approval for its takeover of Scott’s Group’s fuel operations, which includes 28 service stations and 18 fuel depots.
The ACCC said Caltex would remain exposed to other competitors in other regions where it was buying new service stations.
Subscribe to our free mailing list and always be the first to receive the latest news and updates.