Motor Fuel Group, Morrisons in talks for for $2.5bn station deal
The purchase involves 340 forecourts and would also include 500 freehold plots of land to add EV charging and parking services.
Motor Fuel Group (MFG) is reportedly in talks with Morrisons for a 340 service stations deal that could be worth approximately £2 billion ($2.49 billion).
As reported by Reuters, MFG stated that the purchase would also include 500 freehold plots of land at the retailer’s locations to deploy other services such as “ ultra-rapid electric vehicle (EV) and valeting hubs.”
Both companies are controlled by Clayton Dubilier & Rice, a U.S. private equity group. MFG currently operates 900 locations across the UK as its largest independent forecourt operator while Morrisons is the country’s fifth largest supermarket group.
"MFG is already committed to invest 400 million pounds over 10 years into building ultra-rapid EV hubs across their existing 900-strong MFG forecourt network," a MFG representative confirmed to the news agency.
