Motor Fuel has agreed to acquire UK-based independent forecourt operator MRH (GB) for £1.2bn ($1.67bn) from Lone Star Funds.
The deal is expected to be completed by the second quarter of this year.
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Based in the UK, Motor Fuel is a forecourt operator backed by Clayton Dubilier & Rice, while Lone Star Funds is a private equity firm based in the US.
The acquisition is expected to strengthen Motor Fuel’s fuel retailing business.
Goldman Sachs International, RBC Capital Markets, and Investec Bank were appointed as financial advisors for the transaction by Motor Fuel, while Lazard, J.P. Morgan and Citigroup are the financial advisors to Lone Star and MRH.
The legal advisors to Motor fuel are Clifford Chance and Debevoise & Plimpton, while Weil Gotshal & Manges is the legal advisor to Lone Star and MRH.
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By GlobalDataSolo Oil has signed an agreement to acquire an additional 5% stake in UK-based exploration and development company Horse Hill Developments Ltd (HHDL) from Primorus Investments for £1m ($1.42m).
HHDL holds 65% interest in UK licences PEDL 137 and PEDL 246, which are located in Weald Basin, onshore UK, and contain the Horse Hill oil discovery.
PEDL 137 covers an area of 99.29km² (24,535 acres), while PEDL 246 covers an area of 43.58km² (10,769 acres).
Solo Oil will purchase the stake through a cash payment of £0.65m ($0.92m) and the remaining £0.35m ($0.5m) through the issuance of shares.
Based in the UK, Solo Oil is an oil and gas company, while Primorus Investments, also based in the UK, is an investment company.
The transaction will strengthen Solo Oil’s business operations.
Polski Koncern Naftowy Orlen (PKN Orlen) has entered an agreement to acquire a 53% stake in Grupa Lotos.
Based in Poland, PKN Orlen is a downstream energy company, while Grupa Lotos, also based in Poland, is a vertically integrated oil company.
The acquisition is expected to strengthen PKN Orlen’s business operations and generate operating and cost synergies.
