Fleet News

Save Group may fall into foreign hands

BRITAIN'S largest independent petrol retailer could be about to fall into foreign hands. Ernst & Young, administrator for the Save Group, confirmed talks were under way with a potential buyer, but refused to name the party. Save, which has a portfolio of more than 400 freehold sites, collapsed in March after failing to agree refinancing terms with its main banks - Barclays, NatWest and Lloyds TSB. Sources close to the deal claim that a foreign oil company has made a bid for the entire network of petrol stations.

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