Australia: Viva Energy Completes Westside Petroleum Acquisition

Australia: Viva Energy Completes Westside Petroleum Acquisition

Viva buys 50% non-controlling interest in the company

Viva Energy has concluded the acquisition of a non-controlling stake in Westside Petroleum, consequent to the signing of an agreement, in May 2018, to secure a 50% non-controlling interest in the company.

A retail network of more than 50 service stations is being operated by Westside Petroleum, across NSW, Victoria and Queensland, with the sites currently displaying a mix of Shell and Westside Petroleum branding and operating under a variety of operating models

Viva Energy’s CEO Scott Wyatt, said, “This deal with Westside Petroleum is an important acquisition to support our retail growth plans, and will strengthen the Shell Card offering.”

With Viva Energy having board representation, Westside Petroleum will continue to operate independently. Together leading continued growth and rolling out of new retail sites consistent with Westside’s strategy will be Westside Petroleum’s founder and Managing Director, Terry Makhlouf, who will remain in his current role alongside CEO Patrick Riad.

“We are excited to enter into partnership with Viva Energy which will enhance Westside Petroleum’s ability to continue to provide quality fuel products to the retail market and also deliver growth from its current high quality network and pipeline of future service station sites,” said Terry Makhlouf and Patrick Riad. PWKD04092018

Last modified onMonday, 03 September 2018 20:24
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