// Issa brothers are considering selling their forecourt empire EG Group
// The deal could value the company at £10.8bn
// The group is in early stage talks with advisers about the plans
Asda’s billionaire owners, Issa brothers are considering selling their forecourt empire EG Group in a deal that could value the company at £10.8 billion.
EG Group consists of an independent forecourt and convenience store chains and is backed by brothers Mohsin and Zuber Issa and private equity firm TDR Capital.
The group is in early stage talks with advisers about the plans, and EG might explore a stock market listing.
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Companies interested in buying EG Group could include the Japanese firm behind 7-Eleven, as well as Alimentation Couche-Tarde, the owner of the Circle K convenience shops.
EG Group was founded by the Issa brothers in 2001 with the acquisition of a single petrol filling station in Manchester.
In 2015, private equity firm TDR Capital took a minority stake in what was then called Euro Garages, valuing it at £1.3 billion.
The following year it merged with European peer EFR, forming EG Group.
Since then, EG Group has been on an acquisition spree, snapping up convenience stores and petrol stations across the UK, Europe, US and Australia.
It now has 6000 sites.
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