The Co-operative Group said it has agreed to sell its 129-strong petrol forecourt chain to supermarket giant Asda in a deal worth £600 million.
The Co-op Group said the forecourts it is selling make up 5% of its retail estate of 2,564 stores.
Asda will pay £438 million in cash and take on around £162 million of lease liabilities as part of the deal, with the final amount set to be confirmed on completion later this year.
Shirine Khoury-Haq, the Co-op’s newly appointed chief executive, said: “This transaction is in line with our strategy to move away from operating petrol forecourts and supports our vision of co-operating for a fairer world while building our core leading convenience business.”
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Kaynak: briturkish.com
