1 hr ago
Essar Energy Transition Retail Acquires UK Forecourt Operator SGN Retail
Essar Energy Transition Retail has agreed to buy SGN Retail, a UK fuel-station operator.
The purchase is valued at £250 million.
SGN Retail has 118 forecourts, or fuel stations.
EET Retail already has 117 sites.
Together, the companies would have 235 forecourts across the UK.
The purchase will be paid for using cash and borrowed money.
EET Retail says linking its fuel production with its stations could make deliveries more efficient.
The company hopes to grow to 800 forecourts by 2031.
EET Retail agreed to acquire all of SGN Retail for £250 million ($338 million).
The deal would add 118 forecourts to EET Retail’s existing 117 sites.
The combined network would have 235 locations and annual throughput above 650 million litres.
Financing will combine cash with a newly arranged £250 million senior debt facility.
EET Retail plans to expand to 800 forecourts by 2031 and supply fuel refined at Stanlow.
- Who
- Essar Energy Transition Retail, a unit of Essar Energy Transition Fuels, and SGN Retail.
- What
- EET Retail agreed to acquire SGN Retail’s entire shareholding for £250 million ($338 million).
- Where
- The acquisition concerns SGN Retail’s UK forecourts and EET Retail’s wider UK network.
- When
- The article does not specify when the agreement was announced.
- Why
- EET Retail aims to expand its forecourt network, connect retail distribution with fuel production, and improve domestic fuel supply and distribution.
Key facts
- Acquisition value
- £250 million ($338 million)
- Forecourts acquired
- 118
- Combined forecourt network
- 235 sites
- Combined annual throughput
- More than 650 million litres
- Financing
- Cash plus a newly arranged £250 million senior debt facility
- Expansion target
- 800 forecourts by 2031
- Fuel supply source
- Fuel refined at the Stanlow refinery
Quotes
Essar Energy Transition Retail
Essar Energy Transition Retail, the acquiring company
“The transaction adds 118 high-quality forecourt locations to EET Retail’s portfolio. Combined with EET Retail’s existing estate of 117 sites, the transaction establishes a scaled, nationwide mobility platform of 235 fuel forecourts with annual throughput exceeding 650 million litres.”
freepressjournal.in
“EET Retail believes that the combination of demographic growth, the rise of multi-car households and the declining number of forecourts in the UK create an attractive outlook to invest in the forecourt sector.”
freepressjournal.in
Sources
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