MFG has offered to sell off the Murco petrol station in Hythe in a bid to avoid a full merger investigation by the Competition and Markets Authority (CMA) into its acquisition of Murco’s retail business.
Last month the CMA said the deal might be expected to result in a substantial lessening of competition in the retail supply of road fuels in the Hythe area in Kent.
The Murco deal means MFG owns both the filling stations in Hythe, and the CMA said it was concerned whether there would be sufficient competition from other petrol stations in the area.
However, it added that MFG could avoid the acquisition being referred for an in-depth phase 2 merger investigation if it could offer an acceptable solution to address the competition concerns.
After the initial announcement MFG managing director Jeremy Clarke commented: "We are delighted that the CMA has only found one location, Hythe in Kent, where it believes there are competition concerns.
"MFG is keen to remedy the competition concerns in a clear-cut way and to avoid an in-depth CMA investigation. We will, therefore, be working with the CMA to arrive at a quick and acceptable solution."
MFG has offered to divest the Murco petrol station in Hythe and the CMA indicated the undertaking might be accepted. The CMA has a deadline of March 5 to reach a verdict.