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Britain's Co-Op Sells Petrol Forecourt Business To Rival Asda

Britain's Co-Operative Group said on Wednesday that it had agreed to sell its petrol forecourt estate, comprising 129 sites, to supermarket rival Asda for £600 million ($700 million).

The mutually owned Co-Op said it would use the proceeds of the sale to invest in its core convenience stores business and reduce its net debt.

More to follow...

News by Reuters, edited by Donna Ahern, Checkout. For more retail stories, click here. Click subscribe to sign up for the Checkout print edition.

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