Tag Archives: EG Group

Woolies sells fuel network, scales down BIG W

Woolworths has completed the sale of its petrol business to EG Group and will return the proceeds via a buyback. The buyback will be off market and return $1.7 billion to shareholders, Woolworths says. The offer period will open on April 16. Shareholder value Woolworths Group Chair Gordon Cairns says …

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Woolworths Group to sell petrol business to EG Group

Woolworths Group has entered into a binding agreement to sell its 540 Woolworths-owned fuel-convenience sites to EG Group for $1.725 billion. EG Group describes itself as “the leading independent petrol forecourt retailer in Europe” which is also “having great success in the US”. It operates about 4,700 sites across Europe …

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