Woolworths looking to sell fuel arm

Woolworths has confirmed it is evaluating whether to sell its petrol business.

In a statement released in response to recent media speculation, the company said it had received a number of “incomplete and conditional proposals in relation to the purchase of the business and the development of an enhanced convenience and loyalty offer to customers”.

Woolworths also said no sale had been confirmed and that no sale may materialise from the discussions.

The Australian has reported that Caltex is the frontrunner to buy the $1.5 billion portfolio of petrol stations, but that other parties making inquiries included global trading houses Glencore and Guvnor, as well as Trafigura, which owns 49 per cent of Puma Energy.

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