Woolworths to sell fuel business for $1.7 billion
According to an ASX announcement, Woolworths Group is planning to sell its petrol business to British retailer EG Group for $1.725 billion. EG Group has a substantial global presence in the fuel and convenience space, operating 4,700 sites across Europe and North America. As part of the deal to sell its 540 fuel convenience sites, Woolworths will also commence a wholesale food supply agreement to the network. Woolworths’ four cent per litre fuel discount will continue and customers will continue to earn Woolworths Rewards points on fuel and merchandise.