Australia: Caltex considering Woolworths take over

Caltex Australia could be considering a potential acquisition of Woolworths petrol joint venture, according Sky News reports.

Woolworths is a partner of the joint venture operating convenience stores in the Caltex service statins across Australia.

Based on reports from Fairfax press, Australia´s leading fuel supplier Caltex has around $600 million in cash to allocate in acquisitions

Sky News reports other targets for acquisitions could include British Petroleum local assets, although there is no confirmed interest from the petrol giant to offload any of their assets in Australia.