Caltex completes Scott's fuel purchase

Caltex Australia has announced it has finalised its acquisition of the fuel divisions of major Australian logistics firm Scott's

The purchase of Scott's fuel division by Caltex Australia is now complete, with the $95 million deal – that was first announced on February 24, 2014 – finalised in early June.

The deal sees Caltex assume control of businesses Scott's Agencies and Sabadin Petroleum and includes their total of 28 retail sites and 18 depots.

Caltex had to commit to the sale of four retail fuel outlets in Victoria and South Australia to satisfy demands placed upon it by the Australian Competition & Consumer Commission, but gained the acceptance of the government watchdog to proceed on May 22.

"This acquisition complements Caltex’s existing national network and is consistent with Caltex’s strategy of being Australia’s leading transport fuels provider," said the fuel giant in a statement.

Caltex says it anticipates the deal to be earnings per share accretive by the end of its first year of ownership.

Caltex completes Scott's fuel purchase

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