Service station chain OTR sold to Viva Energy for $1.15b

A chain of petrol stations and convenience stores with more than 160 branches across parts of Australia has been sold for $1.15 billion.

Family-run chain OTR, which has brands such as Subway and Oporto within some of its branches, has been sold to Viva Energy.

Viva already owns service stations including Coles Express and Liberty convenience stores, as well as the Shell brand.

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The 6500 OTR staff across stations in South Australia, Victoria, Tasmania and the NT will be asked to move across to the new business as part of the deal.

OTR headquarters will remain in Adelaide.

OTR executive director Yasser Shahin, whose family will remain major shareholders, says the deal will see the company go nationwide.

"The OTR Group is one of the most successful and innovative retail convenience and fuel offerings in Australia," Shahin said.

"I am immensely proud of what the OTR Group has achieved in just 30 years."

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The deal is still subject to regulatory approvals, which could take between six to 18 months.

OTR is part of Peregrine Corporation group, South Australia's largest private employer, with more than 6500 staff.

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