MARKETS

Caltex to offload stake in 250 petrol stations

FUEL retailer and wholesaler Caltex Australia today said it will divest a 49% interest in 250 core petrol and fuel stations, a move it hopes will generate "significant value" for shareholders and allow the company to maintain operational control of its retail chain.

Caltex to offload stake in 250 petrol stations

The move to offload the significant stake in its retail sites follows an internal review of its retail network. Under the IPO Caltex would also enter into long-term lease agreements over each site,...

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