Viva Energy Australia to acquire stake in Liberty Oil
25 August 2014
Viva Energy Australia Ltd (“Viva Energy”) today announced that it has entered into an agreement to purchase a non-controlling stake in Liberty Oil, subject to regulatory approvals.
Mr Scott Wyatt, Viva Energy Chief Executive Officer, said the investment is part of a wider program aimed at building demand and improving the outlook for Geelong Refinery.
“Liberty operates throughout the country, but has a particularly strong business in regional Victoria and neighbouring states which can be supplied from locally made production at Geelong Refinery rather than imports,” said Scott.
“With a well-developed wholesale fuel business, Liberty is already one of our largest customers. I am excited about this investment as it complements our business, supports local jobs, and cements our existing relationship,” he said.
“We look forward to further strengthening this relationship by supporting Liberty both as an investor and a reliable fuel supplier.”
David Wieland and David Goldberger said that the business prides itself on providing local, reliable and cost effective fuel supply.
“We have enjoyed a strong relationship with Viva Energy (formerly Shell) for many years and I can assure our customers that little will change under the proposed acquisition by Viva Energy,” David Goldberger said.
“Not only will the Liberty branding remain but we do not envisage any management or employee changes. Customers will continue to receive the same service level as they do now,” he said.
“The day-to-day operation and management of the business will not change and David Wieland and I will remain at the helm.”
- Ends -
ABOUT VIVA ENERGY AUSTRALIA
Viva Energy Australia (“Viva Energy”) was launched in mid-August 2014 following the completion of Vitol’s acquisition of Shell’s Australian downstream business. It comprises the Geelong refinery, an 870 site-retail network and a bulk fuels, bitumen, chemicals and lubricants business supported by more than 20 terminals across the country. Viva Energy is the exclusive distributor of Shell branded fuels and lubricants in Australia.
ABOUT LIBERTY OIL
Liberty Oil was established in 1995 by the Wieland and Goldberger families. Since 2001, the business has concentrated on supplying wholesale fuel to independent retailers and distributors. Today, Liberty distributes hundreds of millions of litres of fuel a year to independent fuel wholesalers, operating right across Australia.
FOR FURTHER INFORMATION
Jessica Marriner, Media Manager
M: +61 428 750 875 E: email@example.com