June 20, 2018 / 10:29 PM / 2 months ago

Australia's Woolworths says BP will not buy its petrol stations

(Reuters) - Australian retailer Woolworths Group (WOW.AX) on Thursday said BP PLC’s (BP.L) Australian unit would not continue with the purchase of Woolworths’ petrol business which was announced in December 2016.

FILE PHOTO: The logo of BP is on display at a petrol station in Moscow, Russia, July 4, 2016. REUTERS/Sergei Karpukhi/File photo

Australia’s competition watchdog had in December blocked the A$1.8 billion ($1.33 billion) purchase of Woolworths’ petrol stations, even after BP offered to sell some stations to ease competition concerns.

Woolworths said the sale agreements and strategic partnership agreements entered with BP in December 2016 will therefore not be continued by BP.

Woolworths said it would continue to entertain alternative options for its petrol business, but did not specify what the options are.

Reporting by Susan Mathew in Bengaluru; Editing by James Dalgleish

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