JZ Capital Sells Spanish Petrol Station Network To BP Unit

LONDON (Alliance News) - JZ Capital Partners Ltd on Tuesday said it sold Petrocorner, a network of petrol stations in Spain, to a Spanish subsidiary of BP PLC for EUR12.1 million.

David Zalaznick, JZ's founder and investment adviser, said: "Petrocorner was a highly successful result of our buy-and-build strategy in the retail petrol sector. Our management partners did a superb job and we thank them for all their hard work.

"For JZ, the Petrocorner sale represents a further step towards our primary goal to achieve liquidity through realisations and refinancings. We hope to report on additional liquidity events throughout 2019."

Shares in the closed-end investment company were untraded at 440.00 pence each.

BP

Jz Capital