Woolworths Is Back to the Drawing Board Regarding Petrol; Immaterial Earnings and FVE Impact
Narrow-moat Woolworths’ proposed sale of its petrol business to BP Australia was opposed by the Australian Competition and Consumer Commission, or ACCC, due to concerns competition in the retail fuel market could deteriorate were the transaction to proceed. Although there remain options on the table for the two parties, such as amending the deal structure or challenging the ACCC decision, the timing of any potential transaction is uncertain. As a result, we reincorporate the petrol business as a...Woolworths Group is organized into five segments: Australian Food and Petrol, which involves the procurement of food and petroleum products for resale to customers in Australia; New Zealand Supermarkets, which involves the procurement of food and liquor and products for resale to customers in New Zealand; Endeavour Drinks Group, which involves the procurement of liquor products for resale to customers in Australia; BIG W, which involves the procurement of discount general merchandise products for resale to customers in Australia; as well as Hotels, which involves the provision of leisure and hospitality services, accommodation, entertainment and gaming in Australia.
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