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Archer Capital mulls A$650m sale of oil distributor Ausfuel

30 Jan 2013

MSydney-based buyout house Archer Capital is reportedly mulling the sale of oil distributor Ausfuel after receiving a number of expressions of interest for the business.

The company, which distributes both retail and wholesale oil, could be worth up to A$650m ($681m) based on a 6.6-times EBITDA multiple, the Wall Street Journal reported.

The firm has sent out marketing materials that forecasts EBITDA of just under A$100m for 2012, the report said.

Morgan Stanley will handle the sale if a formal offer is accepted, the report added.

Archer paid A$120m for a 73.2 per cent stake in Ausfuel in May 2010.

The company has since expanded by buying Gull Petroleum, Western Australia’s largest independent fuel business, and Central Queensland-focused Choice Petroleum.

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