Caltex Australia (ASX:CTX) is to change its name to Ampol

Company News

by Rachael Jones

Caltex Australia (ASX:CTX) has received a termination notice from Chevron Corporation regarding its current licence agreement for use of the Caltex brand in Australia.

This follows 18 months of discussions with the American company regarding the future of the licence agreement.

They will continue with plans to transition to the company-owned Ampol brand.

The transition will be undertaken in a capital disciplined way as part of the roll out of Caltex’s broader branded network strategy, with an indicative capital cost of approximately $165m over a three-year period.

Shares in Caltex Australia (ASX:CTX) are trading 0.4 per cent lower at $34.05
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.