AUSTRALIA: Caltex Confirms Bid For Woolworths’ Fuel Stations

Caltex Australia has confirmed it has made an offer to acquire Woolworths Ltd’s fuel business.

The retail giant operates around 600 service stations across Australia, which have a nearly 21% share of the country’s fuel market.  Caltex has a 16% share of the market, and also has an exclusive contract with Woolworths to supply fuel.

Caltex declined to offer details of the bid, although some reports said the business may be worth up to $1.5bn.