BP: abandons deal to buy Woolworths' Australian gas stations
(CercleFinance.com) - BP will not continue with its proposed purchase of Woolworths' 527 gas stations and convenience stores in Australia, Woolworths Group said on Thursday.
In late 2016, BP agreed to buy Woolworths' 527 gas stations and convenience stores in Australia, as well as an additional 16 sites currently being built, for a total of 1.3 billion US dollars.
However, the British oil major has reconsidered its decision after the Australian Competition and Consumer Commission said it would oppose the deal.
Woolworths said it is continuing to engage actively with alternative options for its petrol business.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In late 2016, BP agreed to buy Woolworths' 527 gas stations and convenience stores in Australia, as well as an additional 16 sites currently being built, for a total of 1.3 billion US dollars.
However, the British oil major has reconsidered its decision after the Australian Competition and Consumer Commission said it would oppose the deal.
Woolworths said it is continuing to engage actively with alternative options for its petrol business.
Copyright (c) 2018 CercleFinance.com. All rights reserved.