Oil company veteran Mike Greene is heading the proposed acquisition of Morrisons’ M Local stores, according to press reports.

Greene, who headed Jet’s retail offer and also worked with Shell during his career, is said to be leading a team to launch a new convenience chain, backed by Greybull Capital, the private equity company which last year aborted a bid for the Murco UK business.

Greene has extensive experience in the convenience sector, having been CEO of market research experts HIM which runs the Convenience Tracking programme, and was twice chairman of the Association of Convenience Stores. He currently holds a number of directorships.

Morrisons is believed to be in the process of selling its 150-strong chain of M convenience stores.