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Latham Advises on Financing for Motor Fuel Group’s Acquisition of Petrol Forecourts From Morrisons

February 20, 2024
London and European office teams representing the arranging banks in the transaction.

Latham & Watkins is advising a group of 14 arranging banks on the £1.6 billion debt financing for Motor Fuel Group’s acquisition of petrol forecourts from Morrisons. The transaction involves Motor Fuel Group acquiring 337 petrol forecourts (including fuel, convenience retail, kiosk, and ancillary services) and more than 400 sites for ultra-rapid electric vehicle charging development across the UK.

As part of the long-term commercial partnership, Morrisons will take a minority stake of approximately 20% in Motor Fuel Group and enter into commercial and supply arrangements with Motor Fuel Group.

The core Latham team is being led by London partners Francesco Lione and Dan Maze, with associates Oscar Lopez, Medha Vikram, Philipp Hagenbuch, Alex Peters, and Harry Webb.