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BRIEF-Caltex Australia Says ATD Decided Not To Proceed With Its Proposal At This Time

Published 2020-04-19, 07:32 p/m
Caltex Australia Limited
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April 20 (Reuters) - Caltex Australia Ltd CTX.AX :

* CALTEX AUSTRALIA ANNOUNCES CONCLUSION OF ACQUISITION DISCUSSIONS WITH ALIMENTATION COUCHE-TARD

* ATD COMMUNICATED INTENTION TO SEEK TO RE-ENGAGE REGARDING ITS PROPOSAL ONCE THERE IS SUFFICIENT CLARITY AS TO GLOBAL OUTLOOK

* ATD INFORMED CALTEX THAT DUE DILIGENCE IS SUBSTANTIALLY COMPLETE WITHOUT RAISING TO CALTEX ANY MATERIAL ISSUES

* ATD CONFIRMED IT IS ABLE TO SECURE FINANCING

* ATD HAS INFORMED CALTEX THAT ITS DUE DILIGENCE IS SUBSTANTIALLY COMPLETE WITHOUT RAISING TO CALTEX ANY MATERIAL ISSUES

* ATD HAS INFORMED IT CONTINUES TO VIEW CALTEX AS AN IMPORTANT POTENTIAL COMPONENT OF ATD'S ASIA PACIFIC STRATEGY

* ATD COMMUNICATED INTENTION TO SEEK TO RE-ENGAGE REGARDING ITS PROPOSAL ONCE THERE IS SUFFICIENT CLARITY AS TO GLOBAL OUTLOOK

* CONTINUES TO SEEK DIVESTMENT OF UP TO 49% STAKE IN CORE FREEHOLD RETAIL SITES, THROUGH LISTED PROPERTY IPO OR TRADE SALE ALTERNATIVE

* POST DUE DILIGENCE PERIOD, DISCUSSIONS CONCLUDED WITH ATD'S SUBSEQUENT DECISION NOT TO PROCEED WITH ITS PROPOSAL AT THIS TIME

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