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Murphy agrees to sell UK retail business to Motor Fuel Group
August 11, 2014 / 6:40 AM / 3 years ago

Murphy agrees to sell UK retail business to Motor Fuel Group

LONDON, Aug 11 (Reuters) - Murphy Petroleum’s British subsidiary Murco has signed an agreement to sell its retail assets to unlisted UK firm Motor Fuel Group, less than two weeks after Murphy announced the sale of its Welsh refinery.

“Murphy is pleased to announce the signing of this agreement, following closely the signing of the agreement last week for the sale of the Milford Haven refinery,” the company said in a statement.

The deal is expected to close no later than Sept. 30, it added.

U.S. entrepreneur Gary Klesch bought Murco’s Milford Haven refinery on July 31. (Reporting by Karolin Schaps and Ron Bousso; editing by Keiron Henderson)

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