Chevron Said to Near Sale of N.Z. Service Stations to Z Energy

Z Energy in advanced talks to buy Chevron’s Caltex-branded service stations for ~NZ$800m, people with knowledge of the matter said.

  • Agreement may be reached as soon as this week, said the people, who asked not to be identified as details are private
  • There’s no certainty a deal will be finalized, the people said
  • Z Energy shares were halted from trading on Monday, pending announcement of a “significant transaction” it is negotiating, according to an Australian exchange filing
  • Andrew Smith, a Perth-based spokesman for Chevron, and Z Energy spokesman Jonathan Hill declined to comment
  • The Australian Financial Review reported the sale earlier Monday, without saying where it got the information
  • NOTE: Z Energy Halted Pending Acquisition Transaction
  • NOTE: Chevron Seeks NZ$82.4m Selling NZ Refining Shrs
  • NOTE: Chevron to Exit Australian Shale Gas, Sells Refining Venture

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