CTX) extend the partnership between fuel and convenience stores

A new alliance will add 125 Caltex sites to the existing network of 638 gas stations where Woolworths customers will be able to redeem 4 ¢ per liter fuel rebates and earn Woolworths Rewards points.

"It's a Plan B," Banducci said about the Caltex Accord Thursday morning

"We remain disappointed with the announcements and the ACCC decision, but it's behind us and we had to go ahead .I think it's a bargain. "

Woolworths will supply food to more than 700 existing Caltex convenience stores under of the agreement, and the companies will deploy a convenience offer under the Metro banner of Woolworth until 250 Caltex sites during the agreement comes a few weeks after the British oil giant BP has decided not to continue with his purchase of $ 1.8 billion from Woolworths' 543 fuel and convenience stores, which he had agreed to buy in 2016, but had been h

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Mr. Banducci stated that Woolworths was still preparing for end up its activity in the fuel sector through a stock float.

James Goth, currently director of corporate development at Woolworths, has been appointed chief executive officer of the company.

IPO plans should be fleshed out as part of According to Mr. Banducci, the company is still open to a commercial sale.

"We believe that the capital that we could derive from this activity could be better used in the context of our activities," he added.

Limitation of Caltex Losses

Caltex stated that the new fuel supply agreement was "stapled" to the Woolworths sites, regardless of their final property, baduring him of a certainty of the fact. supply.

was standing to lose the entirety of his $ 150 million contract with Woolworths if BP's sale had occurred, said he would lose about $ 80 million in profits from the company. operating according to the new contractual conditions.

"The alliance with Woolworths will allow Caltex to propose a" Melanie Beeby