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Australia: Watchdog blocks BP gas station purchase

 |  December 14, 2017

Australia’s antitrust regulator on Thursday blocked’s AU$1.8 billion (US$1.04 billion) purchase of Woolworths’s petrol stations, even after the oil company offered to sell some stations to ease competition concerns.

BP and Woolworths, which wants to exit the business to focus on its supermarkets, said they were disappointed by the decision after months of talks with the Australian Competition and Consumer Commission and were reviewing what to do next.

“We remain confident that, with appropriate divestments as offered by BP, this transaction would not substantially lessen competition,” BP Australia President Andy Holmes said in a statement. “In light of this, we are currently consulting with our lawyers to determine our next steps.”

Full Content: ACCC

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