Chevron looks to sell Caltex Australia stake

• Chevron (NYSE:CVX) is looking to raise up to A$4.62B ($3.6B) through the sale of its entire stake in Caltex Australia (OTCPK:CTXAY).
• According to a term sheet, Chevron is offering 135M shares at a floor price of A$34.20 each, a 9.7% discount to Friday's close.
• CVX +0.2% premarket