Woolworths opts for plan B, selling petrol business to UK retailer for $1.7b

It has taken two years, but the supermarket giant looks like it has finally offloaded its petrol business, encompassing 540 fuel convenience sites across the country.

Woolworths offloads servos to British group EG for $1.7 billion Woolworths offloads servos to British group EG for $1.7 billion

A brand new player has arrived in Australia's retail fuel market, with supermarket giant Woolworths selling its 540 service stations to the British company EG Group.  

Woolworth Group Ltd (ASX:WOW) has announced the sale of its Petrol business for $1.725 billion.

Australia's Woolworths to sell petrol business to EG Group for $1.25b

As part of the deal, Woolworths and EG Group have entered into a 15-year commercial alliance encompassing fuel discount redemption, loyalty and wholesale product supply.

Australia's Woolworths Group Ltd on Friday said it will sell its petrol business to British petrol retailer EG Group for A$1.73 billion ($1.25 billion).