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.