Nov 9 (Reuters) - Australia’s Woolworths Group Ltd on Friday said it will sell its petrol business to British petrol retailer EG Group for A$1.73 billion ($1.25 billion).
The deal comes months after Australia’s largest supermarket operator canceled a A$1.8 billion sale of its petrol stations to BP Plc after it was blocked by Australia’s antitrust regulator.
As part of the deal, Woolworths and EG Group have entered into a 15-year commercial alliance encompassing fuel discount redemption, loyalty and wholesale product supply. ($1 = 1.3812 Australian dollars)
Reporting by Aditya Soni in BENGALURU