The owners of ASDA Petrol are in talks to sell their firm

ASDA petrol

According to rumors, Asda Petrol owners are in negotiations to sell its global company of gas stations.

According to the Wall Street Journal, Mohsin and Zuber Issa have had talks with the largest Canadian chain of convenience stores, Couche-Tard, about a merger that would value EG Group at £12.7 billion, including debt.

The Issa brothers and their private equity partners TDR Capital might be able to buy Boots from Walgreens Boots Alliance with the aid of a sale of the organization. This month is the deadline for final Boots proposals.

The Issa brothers’ company, EG Group, has had extraordinary success in the forecourt industry.

They are regarded as some of the most likely contenders to purchase the chemist chain. Mukesh Ambani, an Indian billionaire, is reportedly weighing a proposal with Apollo Global Management, a major player in private equity.

Together with the Issas, TDR holds stock in EG Group. The brothers established it in Greater Manchester in 2001. In 2020, TDR and the brothers acquired Asda for £6.8 billion. The EG Group now has 6,000 locations spread across several nations after expanding quickly through a purchase spree in recent years.

The combined revenue of EG Group and Couche-Tard would be £56 billion.

In the US and worldwide, Couche-Tard operates 7,000 convenience stores. It was mentioned as the front-runner to acquire EG Group last year. The Issa brothers have also thought of spinning off EG Group in a stock market IPO or combining it with Asda.

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