The Co-operative Group has agreed to sell its petrol forecourt business to its supermarket rival Asda for £600m, saying it would use the money to reduce debt and open more convenience stores.
The sale includes 129 petrol stations with grocery stores attached located across the UK, representing 5% of Co-op’s retail estate of more than 2,500 outlets, as well as three planned petrol station sites that are yet to be developed.
