Deals
Bankers Scrap for a Piece of $3.1 Billion Gas Station Deal
Calls go into Clayton, Dubilier & Rice as leveraged loans and junk bonds are considered for possible Morrisons sale to MFG.
A billboard for a Morrisons petrol station in London, U.K.
Photographer: SUZANNE PLUNKETTThis article is for subscribers only.
Deal-starved bankers are jostling to get a piece of the financing action on British grocer WM Morrison’s potential £2.5 billion ($3.1 billion) sale of most of its gas stations.
The putative sale to Motor Fuel Group Ltd. is still in the very early stages, according to several people familiar with the talks. But they say debt financiers have been hitting the phones to offer their services to Clayton, Dubilier & Rice, the private equity firm that owns both Morrisons and MFG.