Cashed-up Caltex is eyeing a number of acquisitions, but it's hard to look much further than buying out its partner Woolworths from its petrol joint venture.
Only 1 per cent of Woolworths' earnings before interest and tax comes from the fuel business, though it is used to drive sales in the grocery businesss.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
