The private equity firm that owns Morrisons, Clayton Dubilier & Rice has struggled to sell Motor Fuel Group as an increasing number of high-profile deal situations are vulnerable to the worsening macroeconomic environment.
According to sources familiar with the matter, potential buyers of the UK petrol station operator have faced disagreements over the asking price and the availability of financing.
READ MORE: UK watchdog launches investigation into Morrisons’ takeover of McColl
The Motor Fuel Group is currently seeking a valuation of around £5 billion, Bloomberg News previously revealed.
However, CD&R have claimed they are in no rush to sell MFG and is prepare to wait until potentially next year for economic conditions to improve.
Combined pressures of rising inflation, rising interest rates and the threat of recessions have affected the stability of companies and lenders in large acquisitions – such as MFG.
The news comes after CD&R planned to sell properties used by the grocer’s food production arm amid inflationary pressures.
Last month, CD&R reportedly sought offers for the Big 4 grocer’s warehouses, food factories and fisheries which would be sold and then leased back – which could accumulate over £600 million.
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