Dec 28, 2016
BP fills up with $1.3bn Australian petrol station deal
The deal adds 527 service stations and 16 sites under construction to the 350 outlets BP already owns in the country. There are 248 Simply Food at BP stations in the UK, while the oil giant plans to open 50 more in 2017. Tufan Erginbilgic, chief executive of BP Downstream, said: "Globally we have developed a winning retail formula where we partner with strong local brands, like Marks & Spencer in the UK, to provide our customers with a convenience retail offer that meets the needs of their busy lifestyles." BP said the deal, which was first proposed in September, would be completed by January 2018, subject to regulatory approval. Shares in BP have risen more than 40% this year and were 1.2% higher at 509.1p in afternoon trading in London.
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