Struggling UK supermarket firm Wm Morrison has announced the sale of 30 petrol station forecourt sites to BP, Somerfield and Tesco.
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The 30 forecourt sites were inherited following the dissolution of the BP and Safeway partnership. The sale of 12 of the sites was subject to a pre-emption right in favour of BP Oil UK; BP triggered its pre-emption rights in respect of nine of the sites.
BP intends to retain four of the sites with the other five sites to be transferred to BP’s nominee, UK grocer Somerfield. The remaining sites will transfer to Tesco, subject to the approval of the Office of Fair Trading.
Commenting on the forecourt acquisitions, Steve Back, chief executive of Somerfield, said: “The forecourt sites are complementary to our existing forecourt convenience store network and are further evidence of our ambition to grow that part of our business.”
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By GlobalData
