UK’s Motor Fuel Group (MFG) is in talks with supermarket chain Morrisons for 340 fuel retail forecourts in a deal that could be worth about 2 billion pounds ($2.49 billion), the petrol stations giant said.
The company, in a statement to Reuters on Friday, said a deal would also include 500 freehold plots of land at the supermarket chain’s locations “where ultra-rapid electric vehicle (EV) and valeting hubs will be deployed.”
“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,” the statement said.
Sky News, which first reported the news, said an agreement between the two companies, both controlled by private equity firm Clayton Dubilier & Rice (CD&R), may likely be done during the autumn.
Morrisons did not immediately respond to a request seeking comment.
Source: Reuters.com