News: Caltex Australia confirms offer for Woolworths' fuel business

SYDNEY, Oct 18 (Reuters) - Caltex Australia Ltd (CTX) said on Tuesday it had made a proposal to buy Woolworths Ltd's (WOW) petrol station chain, which analysts expect to sell for more than A$1.5 billion ($1.1 billion).

Fuel supplier BP 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.

Caltex 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) and Germany's ALDI Inc , 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 . ($1 = 1.3187 Australian dollars)