THE Scott’s Petroleum 24-hour service station on Percy St is set to change ownership to Caltex Australia from the middle of the year.
It follows an announcement to the Australian Securities Exchange by Caltex on Monday.
The company said it had entered into an agreement to acquire the Scott’s fuel divisions for about $95 million, including working capital and related acquisition costs.
It includes the businesses known as Scott’s Agencies and Sabadin Petroleum.
Caltex managing director Julian Segal said the acquisition is consistent with Caltex’s strategy of being Australia’s leading transport fuels provider and would complement its existing national network.
Read more in Wednesday’s Portland Observer.