Morrisons owner to sell petrol stations

THE new owner of Morrisons is set to sell 87 petrol stations to push through the £7bn takeover of the supermarket group.

Private equity firm Clayton, Dubilier & Rice (CD&R) won an auction to buy the Bradford-based grocer last year.

However, in January, the UK’s competition watchdog opened an investigation into the move as it raised concerns that the deal could lead to higher petrol prices for some customers.

CD&R also owns Motor Fuel Group (MFG), the country’s largest independent petrol station operator, which runs 921 forecourts across the country.

Meanwhile, Morrisons runs 339 petrol stations across Wales, England and Scotland.

The Competition and Market Authority (CMA) highlighted potential competition concerns in 121 local areas.

In order to address these concerns, CD&R said it will sell off 87 of its MFG-run petrol stations to a CMA-approved buyer.

The regulator said it is consulting over the proposals but is “minded to accept” the offer.

It added that this appears “to be suitable to restore the loss of competition brought about by the deal across each of the 121 local areas in which the concerns were identified”.