Viva Energy picks up Coles Express network for $300 million

 Coles Group (ASX: COL) has today announced it will sell its 710 Coles Express sites to Viva Energy Group (ASX: VEA) for $300 million, with the retail giant placing greater focus on its supermarket and liquor businesses.

As part of the deal, Viva Energy will own and operate the convenience retail sites currently operated by Coles, and accordingly, the ‘Fuel and Convenience Alliance’ between the two parties - which was due to end in 2029 - will terminate at transaction completion.

Speaking at a press conference this morning, Coles CEO Steven Cain said the deal was a “win-win” for both parties.

Read More: https://www.businessnewsaustralia.com/articles/viva-energy-picks-up-coles-express-network-for--300-million.html



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