// Morrisons to be taken over by US private equity firm CD&R, the CMA confirms
// CD&R owns Motor Fuel Group, which sparked concerns for the CMA
Morrisons is set to be officially taken over by US private equity firm CD&R after the CMA approved the £7 billion acquisition.
CD&R won an auction to buy the Big Four supermarket last year but it also owns Motor Fuel Group.
Motor Fuel Group is the UK’s largest independent petrol station operator, with 921 forecourts.
This prompted concerns that the takeover of Morrisons – which operates 335 fuel outlets in England, Scotland and Wales – would give CD&R more than 1,200 of the UK’s 8,000 petrol stations.
The competition watchdog opened an investigation in January looking at whether this would affect prices for consumers.
However, the CMA has now formally accepted an offer from CD&R to sell 87 of its MFG-run forecourts.
It said the proposal appeared “to be suitable to restore the loss of competition brought about by the deal across each of the 121 local areas in which the concerns were identified”.
The CMA said that the sale of some petrol stations will address concerns in multiple areas.