SYDNEY, Oct 18 (Reuters) - Caltex Australia Ltd CTX.AX said on Tuesday it had made a proposal to buy Woolworths Ltd's WOW.AX petrol station chain, which analysts expect to sell for more than A$1.5 billion ($1.1 billion).
Fuel supplier BP BP.L declined to comment on a separate report in the Australian Financial Review newspaper that it had also lodged a bid for the 500 petrol stations, part of a broader asset selloff by Woolworths to shore up its core grocery business. is already Woolworths' fuel supplier.
"Caltex confirms that it made a conditional and confidential proposal to Woolworths to acquire its fuels business and continue the successful fuel alliance," Caltex Australia said in a statement, without disclosing a bid price.
Woolworths, which is refocusing on its grocery business amid a price war with Coles, owned by Wesfarmers Ltd WES.AX and Germany's ALDI Inc ALDIEI.UL , was not immediately available for comment.
The company is in the process of closing its Masters hardware chain, following years of criticism about the loss-making home improvement joint venture with U.S.-based Lowe's Companies Inc (NYSE:LOW) LOW.N . ($1 = 1.3187 Australian dollars)