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Australian regulator to review BP purchase of Woolworths' petrol stations
January 12, 2017 / 2:25 AM / 8 months ago

Australian regulator to review BP purchase of Woolworths' petrol stations

A Woolworths logo is displayed above one of the company's supermarkets in Sydney, Australia, February 26, 2016. REUTERS/David Gray

SYDNEY (Reuters) - Australia’s competition regulator said on Thursday it will review BP Plc’s (BP.L) A$1.8 billion purchase of 527 petrol stations from Australia’s top grocer, Woolworths Ltd (WOW.AX).

“Once a submission is received the ACCC will commence a public review of the proposed acquisition,” the Australian Competition and Consumer Commission (ACCC) said in a statement, without adding further detail.

Woolworths and BP announced the deal last month, saying it was subject to regulatory approval and that it would not be completed before January 2018.

Reporting by Tom Westbrook; Editing by Edwina Gibbs

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