Mobil Australia sells retail business
ExxonMobil Australia subsidiary, Mobil Oil Australia, has sold its retail fuel business to 7-Eleven Australia
The deal, for an undisclosed sum, was signed just weeks after a similar deal with Caltex Australia was thwarted by the country's regulators.
The supermarket and retail company will buy 295 Mobil-owned or leased gas stations, mainly around the suburban areas of Eastern Australia. The previous bid by Caltex, worth around A$300m ($244m), was for 302 stations but was blocked by the Australian Competition and Consumer Commission.
The sale comes after Mobil rationalised its fuel station business over the last few years. However, it will continue its fuel wholesale operations throughout Australia.
Published 8th June, 2010
