The ASX-listed energy group said in April that it had reached an agreement to buy the 205-strong network of On the Run outlets for $1.15 billion.
The competition regulator says the proposed sale of almost two dozen petrol stations in South Australia may not be enough to settle its concerns about Viva Energy’s acquisition of the Peregrine Corporation’s OTR Group., which operates the 205-strong network of On the Run outlets, for $1.15 billion from Peregrine, owned by the Shahin family.
“The ACCC has not yet formed a view as to the nature and extent of any competition concerns with respect to the proposed acquisition, or whether they are capable of being addressed by [the] divestiture proposal,” it reads. Viva will adopt OTR’s broader convenience offering at its larger stores, including quick serve restaurants, barista coffee and dog-wash facilities. Those services will become more important as customers move towards electric vehicles which require frequent charging.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX LIVE: ASX to plunge, Wall Street drops as bets firm on higher ratesAustralian shares to fall, as global bond sell-off accelerates as Australian, US bond yields climb. Birkenstock IPO touted. Follow updates here.
Read more »
ASX 200 to ‘take a knock’ when trading opensCommsec’s Tom Piotrowski expects the ASX 200 to “take a knock” when the market opens, reflecting a downward trend for Northern Hemisphere stocks. An ADP jobs report in the United States was “way stronger” than what the market had anticipated, according to Mr Piotrowski. Presented by CommSec.
Read more »
Darwin theory disproved as RCG celebrates Origin returnCutting a forlorn figure as he tried to walk up the stairs to Darwin's changerooms in April, Reagan Campbell-Gillard knew a groin injury might've spelt the end to his chances of an Origin return.
Read more »
Where should you stay? The world’s top 1000 hotels rankedAustralia did well in La Liste’s ranking of the best hotels in the world, with 46 properties named. But exactly which of the many “best of” lists should you believe?
Read more »
Wagner mercenary chief could be back in Russia after exile. Here's what we knowBelarusian President Alexander Lukashenko said Yevgeny Prigozhin, leader of the Wagner group, was no longer in Belarus.
Read more »
‘Is it because we are women?’ Matildas’ opponents could boycott Cup opener over pay disputeAustralia’s Group B rivals Nigeria are in crisis, with senior players contemplating strike action over broken promises by their national federation, which is also in open warfare with their disgruntled coach.
Read more »