Caltex Australia’s acquisition of Milemaker Petroleum cleared by ACCC
Caltex Australia Limited said it welcomed the decision by the Australian Competition and Consumer Commission (ACCC) to not oppose Caltex Australia’s proposed acquisition of Milemaker Petroleum.
On 7 November 2016, Caltex Australia announced that it had entered into an agreement to purchase Milemaker Petroleum’s retail fuel business assets in Victoria for AUD95 million (USD70.30 million).
The transaction will see Caltex Australia acquire the business assets and take over operation of 46 service stations in the Australian state of Victoria, with the majority located in and around Melbourne. Caltex will also enter into long-term leases for each of the sites with options out to 30 years.
Caltex Australia will inform the market upon completion of the transaction, now anticipated to occur this week.
Caltex Australia has a vast network of approximately 1,900 company-owned, franchised or affiliated sites. Caltex Australia aims to be the market leader in complex supply chains and the evolving convenience marketplace. It operates as a refiner, importer and marketer of fuels and lubricants in Australia. Its shares are listed as CTX on the Australian Securities Exchange.