Australia: Caltex confirms bid for Woolworths fuel business

Caltex Australia Limited has officially confirmed its interest in acquiring the Woolworths fuels business after months of rumours.

After officials from Woolworths confirmed receiving a series of bids for their fuel business, which includes 530 gas stations, Caltex has claimed to be one of the bidders.

“Caltex confirms that it made a conditional and confidential proposal to Woolworths to acquire its fuels business and continue the successful fuel alliance,” said the company in a press release.

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.