Australia To Oppose Caltex Acquisition Of Mobil Stations

Law360, New York (December 2, 2009, 4:32 PM EST) -- The Australian Competition and Consumer Commission has said it will oppose Caltex Australia Ltd.'s plan to acquire 302 retail gasoline stations from Mobil Oil Australia Pty Ltd., a division of Exxon Mobil Corp.

The Australian regulatory agency cited concerns over local market competition and possible price-fixing among major fuel retailers, in a statement released Wednesday.

Caltex, which is primarily a fuel wholesaler, said the proposed acquisition would help it to compete with major Australian fuel retailers such as Coles Express, Woolworths and BP.

The acquisition would...
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