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Greenergy in talks to buy Total's UK gas stations: report
November 28, 2010 / 12:49 PM / 7 years ago

Greenergy in talks to buy Total's UK gas stations: report

LONDON (Reuters) - Greenergy, a supplier of fuel to British supermarket petrol stations, has launched a 1 billion pound-plus ($1.6 billion) bid to buy Total France’s (TOTF.PA) UK retail network, the Mail on Sunday reported.

Greenergy’s chief executive Paul Lester told the newspaper he had held preliminary discussions with the French oil major about buying its 780 petrol station forecourts.

Greenergy, in which the world’s no.3 retailer Tesco (TSCO.L) owns a 35.6 percent stake with the balance held by management and staff, is also interested in acquiring 460 forecourts from U.S. oil firm Murco, said the newspaper.

Total and Greenergy could not be reached for comment by Reuters on Sunday.

Greenergy said in February it was eyeing a flotation in 2011.

Russian state-run firm Gazprom (GAZP.MM) and American refining giant Valero were also named in March as possible bidders for Total’s UK network and its Lindsay oil refinery. The Russian company later denied the reports.

Reporting by Sarah Young; Editing by David Cowell

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