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Australian regulator to review BP purchase of Woolworths' petrol stations

Thursday, January 12, 2017 - 10:57

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Australia's competition regulator said on Thursday it will review BP Plc's A$1.8 billion(S$1.91 billion) purchase of 527 petrol stations from Australia's top grocer, Woolworths Ltd.

[SYDNEY] Australia's competition regulator said on Thursday it will review BP Plc's A$1.8 billion(S$1.91 billion) purchase of 527 petrol stations from Australia's top grocer, Woolworths Ltd. "Once a submission is received the ACCC will commence a public review of the proposed acquisition," the Australian Competition and Consumer Commission (ACCC) said in a statement, without adding further detail.

Woolworths and BP announced the deal last month, saying it was subject to regulatory approval and that it would not be completed before January 2018.

REUTERS

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