Tesco announces offer for 30 former BP/Safeway petrol stations from Wm Morrison
Tesco has announced that it has made an offer to acquire up to 30 former BP/ Safeway petrol stations from Wm Morrison
The deal is subject to BP pre-emption rights on 12 of the petrol stations. The deal will allow Tesco to convert freehold sites in good locations, with new and conforming forecourts and shops, to its Express convenience format.
The stores are complementary to Tesco’s existing Express network and will bring the Tesco shopping experience to more local neighbourhoods across the country.
Tesco says that customers will benefit from lower prices and improved choice, range and service in the growing convenience market.
This asset deal is part of a series of Morrison disposals following on from the Morrison/Safeway merger and will be subject to Office of Fair Trading clearance.
