Correspondents in Sydney | August 07, 2008
CONVENIENCE retailer 7-Eleven Stores is considering the possible purchase of parts of Bill Express, which appointed administrators in early July.
The privately-owned 7-Eleven has an exclusive option with administrator PPB, to look at the assets of Bill Express and related companies that provide electronic distribution of pre-paid vouchers and bill payments.
It is interested in the logistics, technology and commercial aspects of the electronic distribution of the vouchers and payments.
7-Eleven expects to make a decision this month on a possible offer.
"7-Eleven has co-ordinated a team of industry specialists to determine the viability of the proposal and to see whether 7-Eleven can address customers' on-going hardware payment commitments and provide continuity of service and supply," the company said.
"These specialists are not related in any way to the previous management of Bill Express and related companies."
Electronic distribution of products and services is a high priority growth area for 7-Eleven.
It's already a reseller of telecommunication products through its network of over 360 stores in Victoria, New South Wales and Queensland.
"7-Eleven does not believe that a possible acquisition of these services would disrupt the pre-paid telecommunications and bill payment retail distribution market and there would be no change in its current operations," it said.
Bill Express' 14,000 customers have been unable to transact on the company's system since early July.
The company appointed administrators on July 8 after a recapitalisation and restructuring of the bill payment network operator was withdrawn.
A subsidiary of Al Othman Group - a Saudi-based company with interests in manufacturing, trading and investment - had proposed a substantial capital injection into the company and a restructuring of existing liabilities.
AAP