// Asda looking to sell 13 petrol stations with adjoining grocery stores
// The grocer wants to gain approval from CMA amid concerns about its £600m takeover of Co-op forecourts
Asda has offered to sell 13 petrol stations with adjoining grocery stores to overcome competition concerns over its £611 million takeover of Co-op petrol forecourts.
The grocer, which is owned by brothers Zuber and Mohsin Issa and private equity firm TDR Capital, purchased the Co-op’s 132 petrol stations and attached stores last October.
The CMA ruled this month that the deal could lead to higher prices or less choice and ordered Asda to address its concerns to avoid an in-depth “Phase 2” investigation.
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The regulator welcomed Asda’s proposition on Tuesday and said there are “reasonable grounds for believing that the offer, or a modified version of it, might be acceptable”.
The CMA now has until the end of May to weigh the offer and make a final decision.
In August, Co-op first revealed plans to sell its 132 petrol stations and attached convenience stores in a bid to bolster its finances.
