Gull for sale
Posted on 22 December, 2016
Caltex Australia announced to ASX on Thursday that it was buying Gull for $340 million. As Gull is New Zealand and Australian owned, in order for the sale to go through, approval will need to be obtained from the Overseas Investment Office. With the petrol company only running outlets between Northland and Masterton, the sale may be a positive move for people living further south. Gull has never moved further down south because it only owns one fuel terminal in Mount Maunganui. If the sale does go ahead, Caltex said it would be "business as usual" for Gull and would not rebrand it.
