Service Station Chain OTR Sells To Viva Energy For $1.15 Billion

One of South Australia’s largest private employers, service station chain OTR has been sold to the petrol and diesel supplier Viva Energy in a $1.15 billion deal.  

Viva Energy said the acquisition of OTR aimed to create more than 1,000 convenience retail outlets, including Coles Express convenience and Liberty Convenience businesses. 

Stay up-to-date on the latest news with The South Australia Briefing - keeping you in the loop with news as it hits:

Viva Energy is the licensee of the Shell Brand in Australia and the operator of the 700 stores of Coles Express Network of Fuel & Convenience sites. 

Peregrine Corporation Managing Director Charlie Shahin AO said the SMGB business would continue to operate under its current leadership and business plan.  

“Viva has a lucrative wholesale business that will undoubtedly create synergies with the merge of SMGB wholesale into the group,” Mr Charlie Shahin said. 

OTR founder Yasser Shahin told ABC that the deal would make OTR the national brand it deserved to be.  

“The intention and the reason behind this deal is to replace what is now the Coles Express brand in 700-plus Shell sites and replace that with OTR,” Mr Yasser Shahin said. 

“I’d like to see OTR realise its ambition, and the fact is OTR’s bigger than me. It’s bigger than the family,” he said. 

“There are 7,000 staff, Viva have got 6,000, and it’s the right thing for the business,” Mr Yasser Shahin added. 

The Shahin family’s ownership of the Peregrine Property, Construction & Development (PCO) and Motorsport (The Bend) divisions will remain unchanged. 

OTR’s headquarters is still in Adelaide, and the transaction is expected to be completed in CY 2024. 

Subscribe to The Briefing, Australia's fastest-growing news podcast on Listnr today. The Briefing serves up the latest news headlines and a deep dive into a topic affecting you. All in under 20 minutes.