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Australia's Woolworths in talks over petrol station sale

UBS reported to have been hired to help secure a deal valued at A$1.5b

Published Fri, Sep 30, 2016 · 09:50 PM
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Sydney

AUSTRALIAN supermarket giant Woolworths Ltd on Friday said that it was considering offers to buy its petrol station chain in a deal said to be worth more than US$1 billion, extending an asset sell-off as it shores up its core grocery business.

The sale would broaden a divestment programme under new chief executive officer Brad Banducci as he refocuses on the grocery business amid a price war with Coles, owned by Wesfarmers Ltd, and Germany's ALDI Inc.

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