26th Sep 2005 07:01
Morrison(Wm.)Supermarkets PLC23 September 2005 23rd September 2005 Sale of Petrol Filling Sites and Convenience Stores Wm Morrison Supermarkets plc recently confirmed that its subsidiary SafewayStores Limited ("Safeway") had exchanged contracts with Tesco Stores Limited ("Tesco") to sell the 30 forecourt sites that were inherited following thedissolution of the BP and Safeway partnership. The sale of 12 of the sites was subject to a pre-emption right in favour of BPOil UK Limited ("BP") who could acquire them on the same terms and conditions asagreed with Tesco. BP has triggered its pre-emption rights in respect of 9 of the sites. BP intendsto retain 4 of the sites with the other 5 sites to be transferred to BP'snominee, Somerfield Stores Limited ("Somerfield"). The remaining 3 sites willtransfer to Tesco, subject to the approval of the Office of Fair Trading. The 4 sites that will transfer to BP are: Guildford Merrow Epsom RoadHarlow Southern WayHitchin OakfieldSouthampton Sholing The 5 sites that will transfer to Somerfield are: Wolverhampton BilstonWorthing DurringtonWolverhampton Fallings ParkBournemouth WestwayBirmingham Harborne High Street The 21 sites that will transfer to Tesco, subject to OFT approval, are: Blackpool Whitegate DriveBolton Wigan RoadBristol Winterbourne High StreetCardiff WhitchurchChippenham Hungerdown LaneEastleigh Twyford RoadExmouth Churchill RoadGloucester Eastern AvenueKings Lynn Wooton RoadMiddlesbrough Acklam RoadMiddlesbrough Marton StokesleyNewcastle UT KentonNorwich Earlham RoadNottingham Nuthall RoadPlymouth Compton Eggbuckland RoadRothwell Leeds RoadSale Manor AvenueSt Helens WindleWalsall Willenhall Pool HayesWarrington Winwick RoadWest Bromwich Stone Cross All staff will transfer to the relevant purchaser on completion. The value of the gross assets attributable to the 4 sites to be transferred toBP was £7.6 million at 30 January 2005. The value of the gross assets attributable to the 5 sites to be transferred toSomerfield was £8.6 million at 30 January 2005. The value of the gross assets attributable to the 21 sites to be transferred toTesco was £39.1 million at 30 January 2005. EnquiriesMorrisons Press Office 01274 356810 / 01274 356806Ben Howes Citigate Dewe RogersonSimon Rigby 020 7638 9571Fiona Mulcahy This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MRW.L