Downstream oil in brief: UK supermarket takeovers, what is the impact on retail fuels? Report

Insight 22 September 2021

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Report summary

UK-based supermarket chains have become the latest acquisition targets of private equity firms. Last year, EG Group, which is jointly owned by private equity firm TDR capital and the Issa brothers, acquired Asda. This was followed by the announcement of the sale of Asda's service station network to EG Group. More recently Clayton, Dubilier & Rice (CD&R), which owns the UK fuel retailer MFG, offered £7bn to buy Morrisons. Given that the supermarkets in question have large fuel businesses and the private equity buyers also own leading independent fuel retailers, what impact could we see on the UK retail fuel market?

Supermarkets and convenience retail are important characteristics of the UK retail fuel market
Almost half of the UK's supermarket fuel segment could come under new ownership
Conclusion