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According to Dow Jones Sydney on July 5, Australia's Woolworths Group said it has signed a new strategic alliance and a 15-year wholesale fuel supply agreement with Caltex Australia Pty Ltd, but it will continue to seek an initial public offering or sell its gas station business
.
Oil giant BP cancelled a deal to buy a Woolworths gas station two weeks ago after regulators said they would oppose the deal
.
Woolworths Group said 125 Caltex locations will be added to its network of 638 petrol stations, allowing consumers to purchase fuel redemption services
from the Australian supermarket chain.
Woolworths Group will also begin providing long-term wholesale food supplies to more than 700 existing Caltex convenience stores and said a new long-term fuel supply agreement will lock in competitive fuel costs in the market and is expected to deliver significant and sustainable earnings improvements
to Woolworth's gasoline business.
According to Dow Jones Sydney on July 5, Australia's Woolworths Group said it has signed a new strategic alliance and a 15-year wholesale fuel supply agreement with Caltex Australia Pty Ltd, but it will continue to seek an initial public offering or sell its gas station business
.
Oil giant BP cancelled a deal to buy a Woolworths gas station two weeks ago after regulators said they would oppose the deal
.
Woolworths Group said 125 Caltex locations will be added to its network of 638 petrol stations, allowing consumers to purchase fuel redemption services
from the Australian supermarket chain.
Woolworths Group will also begin providing long-term wholesale food supplies to more than 700 existing Caltex convenience stores and said a new long-term fuel supply agreement will lock in competitive fuel costs in the market and is expected to deliver significant and sustainable earnings improvements
to Woolworth's gasoline business.
