Australian regulator to review BP purchase of Woolworths' petrol stations

The ACCC has today formally notified consideration of BP’s $1.8 billion acquisition of the Woolworths Caltex sites, which will give the company around 37 per cent market share.

Coles and Woolworths had around 24 per cent each, followed by Caltex with 18 per cent and BP with 13 per cent.

The review was well flagged but is now formally underway.

It follows a separate ACCC probe into Caltex’s $95m purchase of 45 petrol stations from Milemaker, launched in November.

The BP deal involves plans to roll out up to 200 upgraded convenience stores with Woolworths. It also brings BP into Woolworths’ expanded rewards program.