(Adds details on acquisition)
April 5 (Reuters) - Australian fuel supplier Viva Energy Group Ltd (VEA) said on Wednesday it will buy convenience retailer On the Run (OTR Group) from Adelaide-based Peregrine Corporation for A$1.15 billion ($776.60 million).
The acquisition supports Viva Energy's vision to be Australia's leading convenience retailer, with a pathway to more than 1,000 stores in the next few years.
The deal to buy OTR, which has a network of 205 convenience retail stores, will see Viva Energy become the biggest non-government employer in South Australia, Viva said.
Viva Energy, owner of the Shell service station chain in Australia, said the deal will be funded via A$1 billion of debt and working capital, and an A$150 million equity issuance.
In September last year, Viva Energy said it plans to buy convenience stores from Coles Group Ltd (COL) , giving it a bigger store network than arch rival Ampol Ltd (ALD) .
($1 = 1.4808 Australian dollars) (([email protected]; Twitter: https://twitter.com/damnit_saladin;))
News: WPR UPDATE 1-Australia's Viva Energy to buy convenience retailer OTR Group for $777 mln
Add WPR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$2.62 |
Change
0.000(0.00%) |
Mkt cap ! $1.760B | |||
| Open | High | Low | Value | Volume |
| $2.61 | $2.63 | $2.59 | $3.835M | 1.468M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 28093 | $2.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.63 | 35901 | 7 |
View Market Depth
| Last trade - 16.10pm 03/10/2024 (20 minute delay) ? |
| WPR (ASX) Chart |