New Zealand: Ampol reportedly to sell and lease back Z Energy sites
Around 50 stations are part of a possible 88 million dollar operation with Willis Bond.
Ampol is in talks to reportedly sell and lease back near 50 Z Energy service stations. The news comes after the New Zealand Commerce Commission gave clearance to the former for the acquisition of Z Energy Limited.
According to a report by local news media The Australian, the company believed to be interested in the acquisition of the sites is Willis Bond, a property development and investment firm. The transaction adds up to approximately 88 million dollars.
Willis Bond is currently working on various projects across New Zealand, with a history of raising over 315 million dollars in development capital over the past 12 years.
Z Energy currently holds 40% of fuel sales in the country as the market leader, operating a total of 481 sites across the nation. According to a report by local news site c-store.com.au, if the acquisition by Ampol succeeds, it would create a fuel company with over 2,400 sites and 23.5bn litres of fuel sales annually.
