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Australia: Caltex interested in Woolworths' fuel business

Caltex Australia chief executive Julian Segan has confirmed the company's interest in Woolworths' $1.5 billion petrol station business, reports the Financial Review.



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According to Segan, the “good relationship” between both companies due to their retail alliance would make Caltex a suitable bidder.

"Obviously if the assets were for sale, given our relationship with Woolworths going back to 2003 then we would be interested," said Segal.

Last May PetrolPlaza reported on the possible interest of oil giant BP to acquire Woolworths´ extensive gas station business. According to analysts, the Woolworths petrol business could be worth around $1.5 billion.

Some analysts such as Citigroup have pointed at Caltex as the logical buyer for the Woolworths business.

Caltex is considering a trial for parcel collection services at some of its sites, as it looks to expand its services. 

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