Could Woolworths Limited net $1.5 billion for its petrol stations?

Throughout 2014 and early 2015 I suggested the petrol retailing businesses as a weak area for both Wesfarmers Ltd(ASX: WES) and Woolworths Limited(ASX: WOW), with both businesses increasing their investment and ‘canopy’ (station) numbers at a time when overall fuel volumes were shrinking.
The network expansion appeared to be a result of each business attempting to checkmate the other, and use growing convenience sales to justify the investment. MSN – Read more…

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