After selling off its fuel and convenience store chain OTR Group for $1.15 billion to Victorian-based Viva Energy in April, South Australia’s richest family became even richer.
The Shahin family hit paydirt with the deal that saw its approximately 200 sites change hands as part of the buyer’s plans to take the OTR brand interstate.
While OTR Group will remain based in Adelaide, the deal may mean a reshuffle of the top ranked companies in the South Australian Business Index.
When the list is revealed tomorrow at the South Australian Business Index lunch, Adelaide will see if the deal was a boon for the Shahins, whose Peregrine Corporation landed in the fifth position last year.
The transaction could push the company’s valuation up, thanks to the cash injection, or could drag it down as the firm lost a major limb. Without OTR, Peregrine Corporation still owns The Bend Motorsport Park, Smokemart Giftbox retail stores and a range of property investments.
The South Australian Business Index lunch and networking event will take place on Friday, October 20 at the Adelaide Convention Centre.
It is an opportunity for the state’s business community to discover how the make-up of the Index has changed over the 12 months and discuss what it reveals about the state’s economic future.
The full South Australian Business Index will be revealed tomorrow only on InDaily.
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