The private equity owner of Britain’s biggest independent petrol forecourts operator, Motor Fuel Group, has selected four banks to oversee a £5 billion ($6.76bn) sale.
Clayton Dubilier & Rice (CD&R), is lining up Citi, Deutsche Bank, Goldman Sachs and Royal Bank of Canada to sell MFG, according to Sky News.
MFG said it plans to spend £50m in 2022 on installing 350 rapid vehicle chargers across its network, with the company expanding rapidly since it was first acquired by CD&R in 2015 from Patron Capital Partners in a deal worth about £500 million.
In 2018, CD&R paid £1.2bn to add MRH, the market leader, creating a group operating under fuel brands such as BP and Shell with profits reportedly rising 10-fold since the original acquisition.
Read more: The National News
