EG Group could be sold for $15 billion
Company working with advisors on possible sale of its forecourt, c-store and supermarket business.
Convenience store and petrol station giant EG Group may be up for sale with a price tag of £10.8 billion ($15B), reports The Times.
EG is backed by private equity firm TDR Capital and the billionaire Issa brothers. It has grown through a series of acquisitions and now has about 6,000 sites in countries including the UK, United States, France, Italy, the Netherlands and Australia.
The group is in early stage talks with advisers about the plans, and EG might explore a stock market listing.
EG Group was founded by the Issa brothers in 2001 with the acquisition of a single petrol filling station in Manchester.
The Issa brothers recently acquired a fresh fast food restaurant chain for £100 million. Last year, they also purchased the supermarket chain Asda for £6.8 billion.
Britain’s Competition and Markets Authority raised concerns over local competition when combining EG Group’ and Asda’s petrol station networks.
