Caltex Australia to buy ExxonMobil stations

Caltex Australia Ltd. has agreed to purchase 302 filling stations in Australia owned by ExxonMobil Corp. for A$300 million (US$239.7 million). Most of the outlets are located in metropolitan areas along the eastern coast, with the purchase to be funded by from Caltex Australia’s internal resources. The purchase will give Chevron Corp. an estimated 22% of Australia’s branded fuel market share, upping the company’s Australian filling stations to 602. (May 27, 2009)