Retailer Morrisons has completed the £2.5bn sale of 337 petrol forecourts to Motor Fuel Group (MFG).
The deal also sees MFG acquire more than 400 associated sites across the UK for ultra-rapid EV charging development.
The acquisition, announced in principal January, will see Morrisons secure roughly a 20% stake in MFG, and enter into commercial and supply agreements with it.
Both companies are owned by US private equity group Clayton, Dubilier & Rice.
"The proposed transaction will create significant synergies across fuel retail and ancillary services, as well as scale advantages and growth opportunities for both businesses," the companies said, adding the deal would create a significant number of jobs.
FTSE 100
The UK's flagship share index, the FTSE 100, was up 29-points at 8,176 shortly after opening this morning.
Brent crude oil futures were down 0.18%, trading at $87.04 a barrel.
Companies reporting today
- Advanced Micro Devices - Q1 Results
- Amazon - Q1 Results
- Cameco Corp - Q1 Results
- Coca-Cola - Q1 Results
- Elementis - Trading Statement
- Eli Lilly and Co - Q1 Results
- Glencore - Q1 Production Report
- Hargreaves Lansdown - Q3 Results
- Howden Joinery - Q1 Trading Statement
- HSBC - Q1 Results
- McDonald's - Q1 Results
- PayPal - Q1 Results
- Prudential - Q1 Results
- Rotork - Q1 Trading Statement
- St James's Place - Q1 Funds Under Management
- Whitbread - Full Year Results