InDaily InDaily

Support independent Journalism Donate Subscribe
Support independent journalism

Business

OTR sale a boon or bust for Peregrine’s place in the SA Business Index?

Business

One of the state’s highest profile business deals of the year could make an impact on the 2023 South Australian Business Index rankings.

Print article

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.

Make a comment View comment guidelines

Local News Matters

Media diversity is under threat in Australia – nowhere more so than in South Australia. The state needs more than one voice to guide it forward and you can help with a donation of any size to InDaily. Your contribution goes directly to helping our journalists uncover the facts. Please click below to help InDaily continue to uncover the facts.

Donate today
Powered by PressPatron

More Business stories

Loading next article