SYDNEY, Dec 28 (Reuters) - Australian supermarket giantWoolworths Ltd has sold its chain of petrol stations toBP plc for A$1.8 billion ($1.29 billion) in cash, mediareported on Wednesday.
The Australian Financial Review reported the deal was signedover Christmas and ended months of negotiations around price,loyalty agreements, fuel discount vouchers and conveniencestrategies.
BP will get 500 Woolworths-branded fuel and convenienceoutlets, which sell about 4 billion litres of fuel a year andhave earnings of around A$130 million to A$150 million, thereport said.
Neither company was immediately available to comment.
($1 = 1.3926 Australian dollars) (Reporting by Wayne Cole; Editing by Adrian Croft)
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