Caltex Australia chief: Buying ExxonMobil stations will boost competition

08/30/2009 | Wall Street Journal, The

Julian Segal, CEO of Caltex Australia, said the firm's plan to acquire ExxonMobil's gas stations will allow it to compete with retail operators that rule the fuel-distribution market. Caltex does not plan to change the way ExxonMobil handles its stations, Segal added. The Australian Competition and Consumer Commission is expected to rule on the proposed takeover in October.

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