BP snaps up Woolworths servos for $1.8 billion

By Brian Robins
Updated December 28 2016 - 2:35pm, first published 10:27am
Woolworths will sell its petrol station portfolio to BP in a $1.8 billion deal that will help the retail giant fund its ongoing fight to regain market share in the grocery sector. Photo: Glen Hunt
Woolworths will sell its petrol station portfolio to BP in a $1.8 billion deal that will help the retail giant fund its ongoing fight to regain market share in the grocery sector. Photo: Glen Hunt

Control of the country's multi-billion dollar petrol market is set to be turned upside down with UK oil major BP plunging $1.8 billion to buy the Woolworths nationwide chain of petrol stations which will catapult it to the position of market leader, and triggering immediate concerns over the level of competition within the industry.

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