Retailer Tesco today (Wednesday) announced that it has made an offer to acquire up to 30 former BP/Safeway petrol stations from Wm Morrison, subject to BP pre-emption rights on 12 petrol stations.
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This is a small deal that will allow Tesco to convert freehold sites in good locations, with new and conforming forecourts and shops, to its Express convenience format, Tesco said.
The stores are complementary to Tesco’s existing Express network and will bring the Tesco shopping experience to more local neighbourhoods across the country, it said.
This asset deal is part of a series of Morrison disposals following on from the Morrison/Safeway merger and will be subject to Office of Fair Trading clearance.
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