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Couche-Tard shelves Caltex takeover due to COVID-19
Alimentation Couche-Tard is reported to have pulled out from its proposed $5.6bn takeover of Australian fuel retailer and refiner Caltex Australia, citing economic uncertainties posed by the coronavirus pandemic.
The Australian company indicated that it might reconsider the deal once global outlook improves. It had been looking to acquire Caltex as part of its Asia Pacific expansion strategy.
News Item details
Journal title: Petroleum Review
Countries: Australia -
Subjects: Economics, business and commerce, Refining, Business management, Forecourt retailing
