UK forecourt operator MFG pumped up for £3bn sale

Bankers are sounding out potential buyers for Motor Fuel Group (MFG), which operates about 900 sites under brands including BP, Shell and Esso.

Potentially the deal could be worth £3billion. Around 15% of the firm is owned jointly by chairman Alasdair Locke, chief executive William Bannister and chief operating officer Jeremy Clarke, and former Tesco boss Sir Terry Leahy sits on the board.

MFG is currently owned by private equity firm Clayton, Dubilier & Rice, which acquired the company for £500m in 2015.