Caltex Australia Ltd. announced today that it has made a “conditional and confidential proposal” to acquire Woolworths’ fuels business and continue their successful fuel alliance.

Woolworths Ltd. previously announced that it had received incomplete and conditional proposals from a number of parties to purchase its fuels business.

Caltex Australia is currently the exclusive supplier of petrol and diesel fuel to Woolworths, with annual sales volumes of approximately 3.5 billion litres per annum, which is linked to Woolworths’ continued ownership of the business.

As the sale process is ongoing, and any transaction remains uncertain and is expected to take time to complete, Caltex said it will update the market as appropriate if there are any material changes to Caltex’s existing wholesale supply arrangements with Woolworths.

Caltex Australia has grown to become the country’s leading transport fuel supplier, with a vast network of approximately 1,900 company-owned, franchised or affiliated sites. Caltex Australia operates as a refiner, importer and marketer of fuels and lubricants. It is listed as CTX on the Australian Securities Exchange.