Caltex completes acquisition of the Scott's Fuel Divisions

June 04, 2014

Caltex Australia (Caltex) has completed its acquisition of the Scott's Fuel Divisions for a total outlay of approximately $95 million, including working capital and related acquisition costs.

This constitutes the businesses known as Scott's Agencies and Sabadin Petroleum and includes 28 retail sites and 18 depots. The acquisition was announced to the market on 24 February 2014.

This acquisition complements Caltex's existing national network and is consistent with Caltex's strategy of being Australia's leading transport fuels provider.

As it advised on 22 May 2014, the Australian Competition and Consumer Commission did not oppose the acquisition after accepting an undertaking from Caltex to sell four retail fuel sites in South Australia and Victoria.

The deal was funded via existing facilities and is expected to be earnings per share accretive by the end of its first full year of operation under Caltex ownership.

Analyst contact:
Rohan Gallagher
GM, Investor & Corporate Affairs
Phone 02 9250 5247
Email: rohan.gallagher@caltex.com.au

Media contact:
Sam Collyer
Senior Media Adviser
Phone 02 9250 5094
Email: sam.collyer@caltex.com.au

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