Viva Energy completes acquisition of stake in Westside Petroleum
Viva Energy has completed the purchase of a non-controlling stake in Westside Petroleum.
In May 2018, Viva Energy entered into an agreement to acquire a 50% non-controlling interest in Westside Petroleum.
Westside Petroleum operate a retail network of more than 50 service stations across NSW, Victoria and Queensland. The sites currently display a mix of Shell and Westside Petroleum branding and operate under a variety of operating models.
Viva Energy’s CEO Scott Wyatt, said he was excited about the strategic investment into Westside. “This deal with Westside Petroleum is an important acquisition to support our retail growth plans, and will strengthen the Shell Card offering,” he said.
Westside Petroleum will continue to operate independently, with Viva Energy having board representation. Westside Petroleum’s founder and Managing Director, Terry Makhlouf, will remain in his current role alongside CEO Patrick Riad, and together will lead the target the growth and roll out of new retail sites.
