Morrisons Sells Petrol Forecourts to MFG in £2.5 Billion Deal

Deal Includes Acquisition of Sites for EV Charging Development, Morrisons to Take 20% Stake in MFG

Morrisons has agreed to sell its 337 petrol forecourts to Motor Fuel Group (MFG) in a £2.5 billion deal.
Both Morrisons and MFG are majority-owned by US private equity firm Clayton Dubilier & Rice (CD&R).
The deal includes the acquisition of more than 400 sites for the development of ultra-rapid electric vehicle (EV) charging.
Morrisons will take a 20% stake in MFG as part of the deal, forming a strategic partnership.
The proceeds from the sale will be used to pay down part of Morrisons' £5.7 billion debt and allow wider investment in areas such as convenience shopping.