Woolworths Sells Its Petrol Business, For Real This Time. FVE Unchanged at AUD 24.50
After a false start in late 2016, narrow-moat rated Woolworths delivers on its promise to settle the fate of its petrol business before Christmas 2018. British EG Group has entered into a binding agreement to purchase Woolworths’ network of 540 petrol stations. The sale price of AUD 1,725 million is a touch lighter than our AUD 1.8 billion estimate of the segment’s value and the AUD 1,785 million BP was willing to pay a couple of years ago. Nonetheless, the proceeds of the sale strengthen the gr...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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