ASX-listed Caltex Australia agrees to buy Gull NZ for $340 mln

Wed, 21 Dec 2016

By Paul McBeth Dec. 22 (BusinessDesk) - Caltex Australia has agreed to buy Gull New Zealand for $340 million, giving the ASX-listed fuels company a foothold on this side of the Tasman with about 5 percent of the market. Sydney-based Caltex will take over Gull's 77 retail sites, 22 supply sites and Gull's import fuel terminal in Mount Maunganui, subject to regulatory approvals, in the second quarter of next year, the Australian company said in a statement to the ASX. The deal represents an earnings multiple of about 8.2 times Gull's forec...

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