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Caltex disappointed with Woolies-BP deal

AAP logoAAP 28/12/2016

Caltex Australia says it is disappointed its fuel supply alliance with Woolworths will end after losing out to oil major BP in the battle to buy the supermarket giant's petrol stations.

Caltex said on Wednesday it believed its bid for the Woolworths service stations business represented "full and fair value", and the company had to exercise financial discipline in pursuing growth.

Caltex said its 3.5 billion litre wholesale fuel supply arrangement with Woolworths will remain in place until the BP deal is finalised. Caltex shares were down 1.2 per cent at $30.22 at 1145 AEDT.

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