Viva Energy announced that it has agreed to acquire the remaining 50% shares of Westside Petroleum.
The announcement follows a previous agreement by Viva Energy in August 2018 to acquire an initial 50% non-controlling interest in Westside Petroleum, with the option to acquire the remaining 50% of the future.
Since that initial acquisition, Westside Petroleum has evolved into a retail business that includes a network of over 50 service stations in NSW, Victoria and Queensland.
The announcement follows a previous agreement by Viva Energy in August 2018 to acquire an initial 50% non-controlling interest in Westside Petroleum, with the option to acquire the remaining 50% of the future.
Since that initial acquisition, Westside Petroleum has evolved into a retail business that includes a network of over 50 service stations in NSW, Victoria and Queensland.
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The sites currently display a mixture of Shell and Westside Petroleum branding and operate under a wide variety of operating models.
Both sides have agreed to bring forward the original full purchase option. The termination of the Westside Petroleum transaction is subject to FIRB and ACCC regulatory approval.
Westside Petroleum's complete acquisition of Veeva Energy will continue to support the company's retail development plans, further strengthening its shell card offering.
Westside Petroleum's complete acquisition of Veeva Energy will continue to support the company's retail development plans, further strengthening its shell card offering.
News source: petrolplaza.com
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