Co-op completes £600m sale of petrol forecourts to Asda

Retailer says proceeds will be reinvested in grocery stores, keeping down prices and reducing debt

The Co-operative Group has completed the sale of its petrol forecourt business to its supermarket rival Asda for 600m, saying the money will be reinvested in its grocery stores, keeping prices down and reducing debt.

The group, known for its supermarket chains and businesses including a funeral service, had agreed to sell its 129 petrol stations to Asda in August 2022.