UK: CVC buys 40% stake in largest motorway service station network

Private equity group CVC Capital Partners has taken a £400m stake in Moto, the UK's largest motorway service station network, accounting for 40% of the company.

Moto has 45 large service stations and employs 6,000 people across the UK´s motorways. CVC has acquired the large share from UK pension fund the Universities Superannuation Scheme, reported the Financial Times.

The deal comes just days after CVC purchased Carlyle´s stake in RAC, the British roadside assistance business. The acquired stake will hand CVC almost half of the roadside company, which it valued at about £2.2 billion ($3.3bn)  

CVC´s buy-in of Moto is seen as long-term investment over eight to 12 years, according to the company. 

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