Morrisons is making huge changes to some of its petrol stations which may impact a lot of drivers.
Private equity firm Clayton, Dubilier & Rice (CD&R) has bought the retail giant. Now, the new owners of Morrisons plan to sell off 87 petrol stations as part of its £7 billion takeover.
CD&R is the owner of the Motor Fuel Group (MFG), the largest independent operator of petrol stations in the United Kingdom, with 921 sites. Morrisons, which is predominantly a groceries retailer, operates 339 petrol stations across England, Scotland and Wales. It is rivalled by the likes of Sainsbury's, Asda and Britain's biggest grocer, Tesco.
READ MORE: Morrisons customers to notice big change during their next shop
After a Competition and Markets Authority (CMA) investigation, Morrisons has been given the green light. Although, the CMA highlighted potential competition concerns in 121 local areas across England, Scotland and Wales. 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.
Colin Rafferty, senior director of mergers at the CMA, said: "The sale of these petrol stations will preserve competition and prevent motorists from losing out due to this deal, which is particularly important when prices have recently hit record highs. If we conclude that the competition issues have been addressed following a consultation on CD&R's offer, the deal will be cleared."
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