The private equity owner of Britain's biggest independent petrol forecourts operator, Motor Fuel Group, has selected four banks to oversee a £5 billion ($6.76bn) sale.
Clayton Dubilier & Rice (CD&R), is lining up Citi, Deutsche Bank, Goldman Sachs and Royal Bank of Canada to sell MFG, according to Sky News.
The petrol forecourts operator, which trades from about 900 sites across the UK, has been looking to position itself at the heart of the drive to electrify Britain's automotive industry.
MFG said it plans to spend £50m in 2022 on installing 350 rapid vehicle chargers across its network, with the company expanding rapidly since it was first acquired by CD&R in 2015 from Patron Capital Partners in a deal worth about £500 million.
In 2018, CD&R paid £1.2bn to add MRH, the market leader, creating a group operating under fuel brands such as BP and Shell with profits reportedly rising 10-fold since the original acquisition.
MFG has invested heavily in its retail offering, with brands such as Costa Coffee, Greggs and Subway now at many of its sites.
This puts it in direct competition with supermarket-owned fuel chains, as well as EG Group, which is owned by the billionaire brothers Mohsin and Zuber Issa in conjunction with TDR Capital.
MFG’s green push could attract a variety of investors, including infrastructure and oil companies looking to capitalise on the global energy transition.
However, a public listing of MFG is also being considered.
A successful sale would be a boon for CD&R, which last year acquired UK supermarket chain Morrisons in a deal worth £10m including debt.
How to keep control of your emotions
If your investment decisions are being dictated by emotions such as fear, greed, hope, frustration and boredom, it is time for a rethink, Chris Beauchamp, chief market analyst at online trading platform IG, says.
Greed
Greedy investors trade beyond their means, open more positions than usual or hold on to positions too long to chase an even greater gain. “All too often, they incur a heavy loss and may even wipe out the profit already made.
Tip: Ignore the short-term hype, noise and froth and invest for the long-term plan, based on sound fundamentals.
Fear
The risk of making a loss can cloud decision-making. “This can cause you to close out a position too early, or miss out on a profit by being too afraid to open a trade,” he says.
Tip: Start with a plan, and stick to it. For added security, consider placing stops to reduce any losses and limits to lock in profits.
Hope
While all traders need hope to start trading, excessive optimism can backfire. Too many traders hold on to a losing trade because they believe that it will reverse its trend and become profitable.
Tip: Set realistic goals. Be happy with what you have earned, rather than frustrated by what you could have earned.
Frustration
Traders can get annoyed when the markets have behaved in unexpected ways and generates losses or fails to deliver anticipated gains.
Tip: Accept in advance that asset price movements are completely unpredictable and you will suffer losses at some point. These can be managed, say, by attaching stops and limits to your trades.
Boredom
Too many investors buy and sell because they want something to do. They are trading as entertainment, rather than in the hope of making money. As well as making bad decisions, the extra dealing charges eat into returns.
Tip: Open an online demo account and get your thrills without risking real money.
Fixtures
Opening day Premier League fixtures for August 9-11
August 9
Liverpool v Norwich 11pm
August 10
West Ham v Man City 3.30pm
Bournemouth v Sheffield Utd 6pm
Burnley v Southampton 6pm
C Palace v Everton 6pm
Leicester v Wolves 6pm
Watford v Brighton 6pm
Tottenham v Aston Villa 8.30pm
August 11
Newcastle v Arsenal 5pm
Man United v Chelsea 7.30pm
