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Deals

Essar agrees to buy 118 UK petrol stations

Essar has agreed to acquire 118 UK petrol stations, expanding the forecourt business linked to its Stanlow refinery, the Financial Times reported. The purchase comes as BP and Shell retreat from petrol-station operations globally. The RSS material does not identify the seller, transaction value, financing, completion timetable or any regulatory conditions attached to the deal.

Why it matters

The acquisition gives Essar a larger direct retail outlet for fuel from its UK refinery.

Sources

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