Petrol forecourt group eyes £2bn Morrisons deal
One of Britain’s biggest petrol forecourt groups is in talks to acquire Morrisons 340 petrol stations in a deal worth at least £2bn, according to reports.
Motor Fuel Group (MFG) could strike a deal with the supermarket retailer as soon as this autumn, Sky News has reported.
Both parties are owned by private equity firm Clayton Dublier & Rice (CD&R), with the deal potentially including an additional 150 sites as MFG looks to expand its electric vehicle charging network.
The two parties are said to be looking to position the agreement as a commercial tie-up, the possibility of which first came to light two years ago when CD&R highlighted the “potential opportunity for a commercial operational partnership between Morrisons and MFG”.
The news comes months after CD&R called a halt to a potential sale of MFG.
Sky News said that City advisers have been approached to work on the deal, which could be announced as soon as next month.
Similarities have been drawn with Asda’s £2.27bn acquisition of EG Group’s petrol forecourt empire which was finalised earlier this year.