• About Us
  • Contact Us
  • Editorial Policy
  • Privacy Policy
  • Terms & Conditions
Monday, January 30, 2023
The Washington Mail
  • Home
  • World
  • Business
  • Tech
  • Entertainment
  • Health
  • Lifestyle
No Result
View All Result
The Washington Mail
No Result
View All Result

Coles to sell fuel and convenience business to Viva Energy for $200 mln

by Editorial Board
September 21, 2022
in Business News
Coles to sell fuel and convenience business to Viva Energy for $200 mln


Logo of refiner and fuel distributor Viva Energy, is pictured in Corio, Victoria, Australia, June 28, 2020. REUTERS/Sonali Paul

Register now for FREE unlimited access to Reuters.com

Sept 21 (Reuters) – Coles Group (COL.AX) has agreed to sell its fuel and convenience retailing unit to power producer Viva Energy (VEA.AX) for A$300 million ($200.64 million), as the No.2 Australian grocer shifts its focus on omnichannel supermarket and liquor businesses.

The companies said on Wednesday that Coles Express will be transitioned and operated as an independent business unit within Viva Energy, which will own and operate 710 sites nationally.

In fiscal 2022, Coles Express generated sales revenue of A$1.13 billion, about 2.9% of the company’s total consolidated revenue of A$39.37 billion.

Register now for FREE unlimited access to Reuters.com

“Viva is well-placed to make the most of opportunities to grow the Express business into the future,” Coles Chief Executive Officer Steven Cain said in a statement.

The deal is expected to close in the second half of FY23 subject to Australian Competition and Consumer Commission and Foreign Investment Review Board’s approval, Viva said.

($1 = 1.4952 Australian dollars)

Register now for FREE unlimited access to Reuters.com

Reporting by Himanshi Akhand in Bengaluru; Editing by Shinjini Ganguli

Our Standards: The Thomson Reuters Trust Principles.



Source link

Tags: businessColesconvenienceEnergyFuelmlnSELLViva
Editorial Board

Editorial Board

Get the latest news and updates on World News, Business, Tech, Entertainment and more.

Related Posts

Business booming at local food truck after influencer's TikTok review - News3LV

Business booming at local food truck after influencer's TikTok review – News3LV

by Editorial Board
January 28, 2023
0

Business booming at local food truck after influencer's TikTok review  News3LV Source link

Small business owners in Bakersfield to get money from city for security measures - Bakersfield Now

Small business owners in Bakersfield to get money from city for security measures – Bakersfield Now

by Editorial Board
January 25, 2023
0

Small business owners in Bakersfield to get money from city for security measures  Bakersfield Now Source link

Chicago police warn business owners about recent burglaries in Woodlawn

Chicago police warn business owners about recent burglaries in Woodlawn

by Editorial Board
January 22, 2023
0

CHICAGO - Chicago police are warning business owners in Woodlawn to watch out after three recent burglaries. Police said the...

Next Post
War in Ukraine Dominates U.N. General Assembly

War in Ukraine Dominates U.N. General Assembly

Popular Stories

  • DYOR Paving the Path to Digital Supremacy in Web 3.0 and NFT Industries

    DYOR Paving the Path to Digital Supremacy in Web 3.0 and NFT Industries

    0 shares
    Share 0 Tweet 0
  • Top Three Fruity Slots

    0 shares
    Share 0 Tweet 0
  • Congratulations on Lenercom ESS Won the iF design award 2022!

    0 shares
    Share 0 Tweet 0
  • Entrepreneur Davide De Vries redefines online sales through his distinctive mentorship programs.

    0 shares
    Share 0 Tweet 0
  • morph: The Web3 Brand That Bridges The Gap Between Real and Virtual Worlds Through Digital Innovation

    0 shares
    Share 0 Tweet 0

Recommended

Teens accused of second Yazoo City car business burglary

Teens accused of second Yazoo City car business burglary

May 21, 2022

Trina Solar vows to build a net-zero world with responsibility, technology and vision

December 5, 2022
Health Department to expand vaccination clinics in June

Health Department to expand vaccination clinics in June

June 1, 2022
  • About Us
  • Contact Us
  • Editorial Policy
  • Privacy Policy
  • Terms & Conditions

© 2022 The Washington Mail. All Rights Reserved.

No Result
View All Result
  • Home
  • World
  • Business
  • Tech
  • Entertainment
  • Health
  • Lifestyle

© 2022 The Washington Mail. All Rights Reserved.