Petrol station firm EG Group mulls ‘potential $15bn sale’
Petrol station forecourt giant EG Group is reportedly mulling options for its future, including a potential sale.
Bloomberg reported that a deal to sell the company, which is backed by the billionaire Issa brothers and private equity firm TDR Capital, could fetch as much as $15bn.
The firm could also go for an initial public offering (IPO), sources said.
It is not the first time the firm has weighed up a float. Back in 2019 it consider taking such a step, with a valuation of over £$10bn.
Discussions are in early stages and there is no guarantee they will result in a deal, the report said.
EG is one of the largest petrol station owners in the world, with more than 6,000 sites across the UK, US, mainland Europe and Australia.
After the Issa brothers swooped in on supermarket Asda earlier this year, the Competition and Markets Authority (CMA) warned that the combination of EG and Asda’s petrol station portfolio could negatively affect petrol prices for drivers.
The Issas said that they would sell off 27 of Asda’s forecourts to assuage the concerns, which the CMA accepted.