Million pound deal sees major gas station handover

Courtyards across the county face a major transformation as a group sells its gas station portfolio to a competitor.

The cooperative group has agreed a £600m deal that will see its 129 petrol stations handed over to Asda.

The deal is an attempt to reduce the co-op’s debt and provide a “buffer” for an uncertain future.

This means service stations in Sussex will need to be drastically transformed as Co-op removes its branding and hands it over to Asda.

Sites affected include Polegate, Horsham and Crawley.

Co-op chief executive Shirine Khoury-Haq told the PA news agency: “Today’s sale will help us reduce our net debt and improve our financial position, giving us a greater buffer to weather the current economic waves.

“If we’ve learned anything over the past few years, it’s that we can’t predict much about what’s coming next.

“We’re incredibly optimistic about the future of the company, but we need to be careful about the external environment.”

https://www.theargus.co.uk/news/20876020.multi-million-pound-deal-sees-major-petrol-station-handover/?ref=rss Million pound deal sees major gas station handover

Fry Electronics Team

Fry Electronics.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@fry-electronics.com. The content will be deleted within 24 hours.

Related Articles

Back to top button