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The Pub For General Automotive Related Talk |
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#1 | ||
FF.Com.Au Hardcore
Join Date: Dec 2004
Location: Central Q..10kms west of Rocky...
Posts: 8,307
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"Chevron will spend $425 million to acquire Puma Energy's Australian business in a surprise move to re-enter the fuels retailing market in Australia only four years after exiting it through the $4.6 billion sale of its half-share of Caltex.
Puma, one of the country's largest independent fuel retail chains, owns a network of about 360 retail fuel sites around Australia, 222 shops and dozens of cafes and truck stops. The assets, put on the block by Puma owner Trafigura, were being pitched through Bank of America Merrill Lynch with about $50 million of earnings before interest, tax and depreciation and expected to raise about $450 million, The Australian Financial Review's Street Talk column reported in September. The purchase of Puma will see Chevron re-enter the fuels market in Australia. “The acquisition will provide Chevron with a stable market for production volumes from our refining joint ventures in Asia and create a foundation for sustainable earnings growth,” Mark Nelson, Chevron’s executive vice president for Downstream & Chemicals, said in a statement from San Ramon, California. Puma chief executive Emma FitzGerald said the sale, which excludes the bitumen business in Australia, reflected the company's commitment to "optimise our global portfolio and deleverage our balance sheet" by the end of 2020. Updated: Dec 23, 2019 — 12.45pm. Data is 20 mins delayed. View CTX related articles "This follows the sale of our business operations in Indonesia and Paraguay, enabling us to pay down our debt and ensure we’re focused on those markets which will drive growth as part of our customer-focused five-year strategy," she said. The deal, due to close in mid-2020 subject to regulatory approvals, allows Chevron to retain use of the Puma Energy brand although the US company has yet to decide whether to do so. "Chevron will evaluate all options," a spokeswoman in Perth said. Bids in for Puma Energy's petrol stations, EG Group eyed The sale adds to the upheaval in the petrol and diesel retailing sector in Australia, where Woolworths recently sold its network to UK-based EG Group for $1.73 billion and Canadian convenience retailer Alimentation Couche-Tard is pursuing an $8.6 billion takeover of Caltex. Puma only entered Australia in 2013 when it bought Archer Capital's Ausfuel, along with Neumann Petroleum and Central Combined Group. That was followed by more movement with Shell selling its Geelong refinery and its petrol stations to trader Vitol. That business has since been listed as Viva Energy, selling fuel through its Shell-branded network and an alliance with Coles. Puma Energy has 3 per cent to 4 per cent of the Australian fuel retailing market, according to data firm IBISWorld, trailing Coles (13.9 per cent), Caltex (12.6 per cent), Woolworths (now EG Group, 11.5 per cent), 7-Eleven (6.7 per cent) and BP (5.4 per cent). It delivers over 1 billion litres of fuel a year. "The Puma Energy fuels business in Australia is subscale in relation to the market and has been under competitive pressure," a spokesman said. "We want to focus our efforts to drive growth on those markets where we have scale and can make a real difference." The deal brings to an end Chevron's absence from the fuels retailing sector since it sold its half-share in Caltex Australia in March 2015. That sale, Australia's biggest ever block trade of shares, contributed to the US player's target at the time to sell an extra $US5 billion ($7.27 billion) of assets. "Our divestment in 2015 was aligned with our global asset sale commitment at the time to return cash to Chevron," said the Perth-based spokeswoman. "As part of our refining and marketing value chain approach, Chevron’s intent is and has always been to place its refined products in desired markets, and Australia fits the profile." Chevron is already one of the biggest foreign investors in Australia through its $US54 billion Gorgon LNG project, its $US34 billion Wheatstone LNG venture and its stake in the North West Shelf venture."
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#2 | ||
FF.Com.Au Hardcore
Join Date: Nov 2012
Location: Central Vic
Posts: 3,724
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I’m not sure that Chevron sees that as a complement in our forward thinking strategy at the retail level......I suspect they see us as a trailing economy.
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#3 | ||
Peter Car
Join Date: Dec 2004
Location: geelong
Posts: 23,145
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Never seen a puma station. Are there any in vic?
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#4 | ||
NOT A TOYOTA :/
Join Date: Jan 2005
Location: Eastern Suburbs, Melb
Posts: 2,554
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Don't think so, but they were everywhere when I was in Darwin in October. Hadn't heard of them before that.
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#5 | ||
Regular Member
Join Date: Jan 2014
Posts: 374
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Puma sites in WA, NT and QLD, not sure of other states. Incidently Costco moving into WA have included fuel outlet along with their retail warehouse.
Last edited by John 13; 23-12-2019 at 05:17 PM. Reason: Addition. |
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#6 | ||
FF.Com.Au Hardcore
Join Date: Jun 2010
Posts: 1,362
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Springvale Rd Springvale, South bound lane about 1.3 Kms South of Springvale, Princes Hwy Junction. I work near this Station.
https://www.pumaenergy.com.au/on-the...ions/stations/ |
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#7 | ||
Thailand Specials
Join Date: Aug 2009
Location: Centrefold Lounge
Posts: 49,073
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#8 | ||
Former BTIKD
![]() Join Date: Mar 2005
Location: Sunny Downtown Wagga Wagga. NSW.
Posts: 53,197
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And Caltex to become Ampol... confusing innit?
![]() https://www.9news.com.au/national/ca...e-c64b784a92b6
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#9 | |||
Rob
Join Date: Sep 2006
Location: Woodcroft S.A.
Posts: 21,541
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Quote:
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#10 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 7,698
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Good to see AMPOL resurrected, great Aussie brand - I think it was bought out by Mobil and shut down in the very early '90's
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#11 | ||
Experienced Member
Join Date: Sep 2006
Location: Australasia
Posts: 7,560
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#12 | ||
Guest
Join Date: Aug 2018
Posts: 1,892
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#13 | ||
FF.Com.Au Hardcore
Join Date: Nov 2005
Location: perth
Posts: 4,355
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and them all to become cheaper
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yes still (as money n time permit) doing the rebuilding the zh fairlane with a clevo 400m 4v heads injected whipple blown with aode 4 speed trans to a 9" ....... we'll get there eventually just remember don't be afraid to try something new. Remember, amateurs built the Ark...Professionals built the Titanic! I have taken up meditation... at least it's better than sitting around doing nothing !! |
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#14 | ||
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Join Date: Aug 2018
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#15 | ||
FF.Com.Au Hardcore
Join Date: Mar 2005
Posts: 7,698
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#16 | ||
FF.Com.Au Hardcore
Join Date: Jan 2014
Location: Wagga
Posts: 1,462
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Caltex purchased Ampol in the mid 90's
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#17 | ||
FF.Com.Au Hardcore
Join Date: Jun 2010
Location: Perth
Posts: 1,315
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There are a few Puma stations in WA.
They have teamed up with RAC (WA) and gives discount to RAC members, which would be probably half the motorist in WA? Anyway, I just received my RAC renewal invoice. $265/year and it describes: 'You saved $286.41 by using our member benefits. The two places you saved were: * Repco, * Puma Energy' I guess if I hadn't filled up there, I would have filled more at other places that also run some sort of loyalty program. Cheers, |
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#18 | ||
AU3 ute EL futura
Join Date: Oct 2008
Location: Brisbane
Posts: 485
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There are quite a few pumas in and around brisbane.
Caltex bought ampol and gradually rebranded them. Rocklea was still an ampol until recently. and them all to become cheaper My understanding is the major block for independent retailers is getting imported petrol off the ships into tanks to decant into trucks. Apparently the government has the land and the independents are willing to build the infrastructure. I wonder who is bribing who to prevent the leases ? |
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#19 | |||
Regular Member
Join Date: Oct 2006
Posts: 240
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