(Reuters) – U.S. private equity firm Clayton Dubilier & Rice (CD&R) is exploring the sale of a stake in UK’s Motor Fuel Group (MFG) at a valuation of about 7 billion pounds ($8.8 billion), Sky News reported on Saturday.
CD&R is working with advisers to examine options for selling a large minority shareholding in MFG, the report said.
A stake sale of around 25-30% is expected, the report said, adding that the final shape of any deal is yet to be determined.
CD&R would retain a controlling stake in MFG after any stake sale, the report added.
CD&R declined to comment on the report, while MFG did not immediately reply to a request from Reuters for comment.
Motor Fuel Group is UK’s largest independent forecourt operator and provides services through over 1,200 sites, according to its website.
($1 = 0.7946 pounds)
(Reporting by Gnaneshwar Rajan in Bengaluru; editing by David Evans)
