Australia: Puma energy to sell its retail assets with EG Group lurking
Experts value the retail network, including hundreds of stations and 60 truck stops, at $450 million.
Puma Energy's owner, commodities trader Trafigura, is working with Bank of America Merrill Lynch to offload certain assets. One of the options being considered is Puma Energy’s retail assets in Australia, reports Financial Review.
As one of Australia’s largest independent fuel retail chains, Puma Energy’s network includes 360 retail fuel sites, 222 stores, 81 restaurant/cafes and 60 truck stops as well as a large fuel transport business.
Puma Energy has 3% to 4% of the Australian fuel retailing market. The whole business would be worth around $450 million, according to sources cited by Financial Review.
British-based forecourt powerhouse EG Group, which acquired the Woolworths fuels business last year for $1.2 billion, has been tipped as possible bidder.
Puma Energy has only been doing business in Australia since 2013 when it acquired Archer Capital’s Ausfuel.
