BSR
BSR
  • Home
  • Distressed Businesses
    • All Distressed Businessess
    • Administrations
    • Liquidations
    • Winding Up
    • Insolvency Advice  New
  • Buy a Business
    • All Businesses for Sale
    • Find a Business for Sale
    • Raising Business Finance
    • Buyer Acquisition Service   New
    • Escrow Service   New
  • Sell a Business
    • Sell Your Business
    • Seller Accounts
    • Need Help Selling?
    • Help With Finance New
    • Business Valuation
    • Business Wanted Adverts
  • Insights & News
    • View All News
    • View All Insights
  • Off-market
    • Source deals
  • Log In
  • Join Now
Join now
11111111

Home / News / Competition watchdog approves sale of Asda petrol stations

Competition watchdog approves sale of Asda petrol stations

Wed, 16 Jun 2021 | DIVISION SALE

Competition watchdog approves sale of Asda petrol stations

The UK competition regulator has accepted an offer from prospective new owners of Asda to sell 27 petrol stations and satisfy concerns that the sale of the business could lead to higher prices.

A deal to purchase the supermarket chain was agreed between Mohsin and Zuber Issa and private equity backer TDR Capital in October 2020. However, the Issa brothers have subsequently been unable to work directly with Asda after competition regulators expressed concerns that the deal could lead to higher petrol prices for drivers across 36 locations around the country.

To bypass the issue, the Issa brothers offered a deal in May that they said would see them sell off 27 of their current petrol forecourts. This deal has now been officially accepted by the Competition and Markets Authority (CMA) so the new owners can now begin selecting a buyer to purchase the forecourt sites.

Commenting on the news, Asda chief executive and president Roger Burnley stated that it welcomed the acceptance of the proposal and would now begin its search for the right buyers or buyers for the petrol stations.

He said: "We welcome today’s announcement from the CMA, which means we can now fully embark on the next stage of our journey under new ownership and work with Mohsin, Zuber and TDR to build an even stronger Asda that gives our customers outstanding choice, value and service in our stores and online."

TDR and Issa brothers added in a joint statement: "We welcome the CMA’s announcement today marking the end of its review process and acceptance of our proposed undertakings."

EG Group, the forecourt giant owned by the Issa brothers, operates 395 petrol stations in total, 323 of which are owned by Asda.


Share this article



Latest Businesses for Sale

Independent Foodservice Wholesaler
UK

Supplies an extensive range of chilled frozen ambient & non-food products to hotels food & drink establishments contract caterers and other B2B customers. Operates from custom-built facilities with in-house FSA-approved butchery processing capabiliti...

Asking Price: Offers Invited
Turnover: £9,797,000

Mediterranean & English Cafe Restaurant
South East, UK

The business was first established by the owner in 2019, building up an excellent reputation during its time of trading. As seen by some online ratings and reviews, the business is extremely popular within the local area.

Asking Price: Offers Invited
Turnover: £390,000

LEASEHOLD


Pork Cutting Plant
North of England, UK

An opportunity has arisen to acquire a company that procures pork from a range of suppliers and cuts the products to the specific requirements of clients.

Asking Price: Offers Invited
Turnover: £2,870,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
07
 
Feb
 

Marine engineering firm to target M&A after revenue grows 21.5 per cent | BUSINESS NEWS

Marine engineering and warehousing business Shepherd Offshor...

 
07
 
Feb
 

Administrators exploring accelerated sale of telecoms contractor | ADMINISTRATION

Administrators from RSM UK Restructuring Advisory LLP are se...

 
06
 
Feb
 

M&Co brand bought out of administration, but 170 stores still to close | ADMINISTRATION

Scottish clothes retailer, M&Co has been bought out of admin...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news

logo
Our Services Distressed Businesses
  • Businesses for Sale
  • Distressed Companies
  • List a Business
  • Help with Finance
  • Buyer Acquisition Service
  • Small Businesses for Sale
Company Buy a Business
  • About BSR
  • Pricing
  • Insights
  • News
  • FAQs
  • Reviews
Get In Touch
020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm
About BSR
Business Sale Report is the UK's leading
independent business for sale & distressed business listing service.
Established in 1995, BSR offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.
Subscribe

Subscribe to our newsletter to receive news about the latest businesses for sale.

  • Terms
  • Privacy
  • linkedin
  • facebook
  • twitter
© 1995-2023. Business Sale Report Ltd. All rights reserved. www.business-sale.com.