// The billionaire Issa brothers made CBE on the Queen’s Birthday Honours list, a week after acquiring Asda for £6.8bn
// Mohsin & Zuber Issa honoured for their services to business and charity
Billionaire brothers Zuber and Mohsin Issa have been handed royal honours a week after snapping up Big 4 grocery giant Asda in a £6.8 billion deal.
The Issa brothers are among a number of bosses made a CBE in the Queen’s Birthday Honours list, as they were hailed for services to business and charity for their work leading petrol forecourt operator EG Group.
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The billionaires made their fortunes after successfully transforming their business from one rented petrol station into a network of almost 6000 forecourts across 10 countries over the past 20 years.
Last week, the Blackburn-based pair revealed they would take the reins at Asda after winning a multibillion-pound auction to buy the UK grocery chain from Walmart.
On Friday, Asda confirmed the brothers and private equity backers TDR Capital agreed the takeover deal, committing to keep the Leeds quarters and vowing to invest more than £1 billion into the retailer over the next three years.
Elsewhere, fashion entrepreneur Paul Smith was also recognised on the annual list, being named as a member of the Order of the Companions of Honour.
with PA Wires