Equans EV Solutions takes legal action against supermarket giant

  • French conglomerate Bouygues sues Morrisons over £2.5bn petrol forecourts deal
  • Equans EV Solutions alleges breach of contract by Morrisons
  • Exclusive rights agreement for charging equipment at 273 Morrisons sites violated
  • Morrisons sold 337 petrol forecourts to Motor Fuel Group (MFG) for £2.5bn last month
  • MFG deal included acquisition of over 400 associated sites for EV charging development

French conglomerate Bouygues is suing UK supermarket chain Morrisons over its £2.5bn deal to sell over 300 petrol forecourts to Motor Fuel Group (MFG). Equans EV Solutions, a subsidiary of Bouygues, claims that Morrisons breached their contract by selling the sites without permission. The agreement with Equans gave them exclusive rights to install charging equipment at 273 Morrisons locations. Morrisons had previously sold 337 petrol forecourts and over 400 associated sites for EV charging development to MFG last month, securing a minority stake in the group and commercial agreements.

Factuality Level: 7
Factuality Justification: The article provides accurate information about the situation between Bouygues/Equans and Morrisons, as well as details of the deal with Motor Fuel Group (MFG). It is not overly dramatic or sensationalized, and presents a clear topic without digressions. However, it could provide more context on Equans EV Solutions and its relationship with Morrisons before the lawsuit was filed.
Noise Level: 3
Noise Justification: The article provides relevant information about a business deal and legal dispute between Bouygues’ subsidiary Equans EV Solutions and Morrisons, with some details on the financial aspects of the situation. It does not contain any irrelevant or misleading information, but it could benefit from more analysis or context on the implications of this development for the electric vehicle charging industry or the companies involved.
Financial Relevance: Yes
Financial Markets Impacted: UK financial markets
Financial Rating Justification: The article discusses a £2.5bn deal between Morrisons and Motor Fuel Group, as well as the impact on Equans EV Solutions, which could lead to legal action. It also mentions the use of proceeds from the sale for debt repayment by Morrisons.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.retailsector.co.uk