Australia’s big two supermarkets, which not long ago accounted for half of all retail petrol sales across the country, are gone from the sector, and now one of their replacements wants to get out, too.
British-born EG Group, which paid $1.73 billion for Woolworths’ 540 company-owned fuel convenience sites in April 2019, has revamped efforts to sell its Australian arm and is in talks to cut its losses and get out, only six years after landing with a splash and promising to shake up the local market.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.