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JZ Capital exits Spanish fuel station operator Petrocorner

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JZ Capital exits Spanish fuel station operator Petrocorner

JZ Capital Partners Ltd. said Madrid-based fuel station operator Petrocorner Retail SL was sold to a Spanish unit of BP PLC, or British Petroleum.

JZ Capital owns an 18.75% stake in Petroconer through JZI Fund III LP, a fund managed by private equity firm JZ International Ltd.

The publicly listed fund anticipates receiving €12.1 million in cumulative gross proceeds from the sale, including interim proceeds and escrows.

JZ Capital is a closed-end investment company targeting U.S. and European microcap companies and U.S. real estate. It receives investment advice from Jordan/Zalaznick Advisers Inc.