The Australian Competition and Consumer Commission (ACCC) says it does not oppose the Caltex Australia Petroleum
(ASX:CTX) proposed acquisition to buy a chain of Victorian service stations.
Caltex is proposing to buy 46 of Milemaker Petroleum’s sites in Victoria, around 30 of which are in Melbourne.
From a consumer standpoint Milemaker sites will appear as Caltex sites, as each site runs as an independent franchisee.
The competition commissions says, although competition will be reduced, Milemaker’s competitive and independent pricing allows motorists to shop around to find cheaper fuel- which pushes others to drop their prices to compete.
Shares in Caltex Australia Petroleum
(ASX:CTX) are currently trading 1.15% higher to $30.87.
