June 3, 2016
Viva Energy Australia Pty Ltd (“Viva Energy”) welcomes today’s announcement by Eureka Operations Pty Ltd (“Eureka”) that it accepts the judgement of The Court of Appeal – Supreme Court of Victoria with regard to the terms of the Alliance agreement between the parties.
“The Viva Energy and Eureka Alliance is a powerful combination providing customers with quality fuels and a first-class convenience offer.
“We’re focussed on growing our retail business and during the past year have added more than 30 Alliance sites to the network. This is the largest increase in our network for many years, and reflects our investment plans and the strength of the Alliance. Those investment plans contemplate ongoing network growth which will see our two organisations working together with a view to opening more than 100 Alliance sites over the next five years.
“We look forward to continuing to grow our retail business together with Eureka.
“If an A-REIT proceeds, it will provide a strong platform to support the further expansion of the retail network.”
A spokesperson for Viva Energy said while no decisions have been made, the company intends to progress plans to establish an A-REIT.