Debevoise & Plimpton is advising on the financing aspects of the proposed acquisition by Motor Fuel Group (“MFG”) of 337 Morrisons petrol forecourts (including fuel, convenience retail kiosk and ancillary services) and more than 400 associated sites, across the UK, for Ultra-Rapid electric vehicle (“EV”) charging development.
The proposed £2.5 billion transaction forms a new strategic partnership between the two companies. As part of the transaction, Morrisons will take a minority stake of approximately 20% in MFG, and enter into commercial and supply agreements with MFG.
For full details of the transaction, see the official release here.
The Debevoise team is being led by finance partner Alan Davies, and includes partners E. Raman Bet-Mansour, Ryan Rafferty and Nicholas Pellicani, international counsel Gregg Young, and associates Almas Daud, Patrick Dixon, Lee Lancaster and Ines Tulic. Tax advice is being provided by partner Cécile Beurrier, and associates Charles Cartiglia and Christopher Gossage.