Essar's UK retail arm expands to 235 petrol stations in £400-£450 million deal
Essar Energy Transition Retail said its purchase of a UK petrol-station operator will raise its network to 235 sites, in a transaction valued between £400 million and £450 million.
Essar Energy Transition Retail announced that it has bought a UK petrol-station operator, increasing its total sites to 235. The transaction is estimated to be worth between £400 million and £450 million, according to two informed sources. Arvan Ruia, chief executive of EET Retail, said the acquisition accelerates the company's goal of building an 800-site, vertically integrated network supplied directly from its Stanlow refinery.
Funding for the deal is provided through a debt facility that includes First Abu Dhabi Bank, Macquarie Bank, Mizrahi Tefahot Bank, Royal Bank of Canada and SMBC Bank International. Essar aims to leverage this expanded footprint to deliver lower fuel prices to UK motorists. The move underscores the group's broader strategy of integrating refining and retail operations within the British market.
Why it matters
The deal expands Essar's UK retail presence, potentially lowering fuel prices through integrated supply.
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