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EG Group to take over Asda forecourts business for £750 million

EG Group to take over Asda forecourts business for £750 million
General view of the petrol and diesel prices at an Asda filling station on April 21, 2020 in Milton Keynes, United Kingdom. (Photo by Catherine Ivill/Getty Images)
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Kiran Paul
By Kiran PaulFeb 03, 2021
Kiran Paul
With a background that spans both the agility of startup environments and the established presence of Asian Media Group, Kiran tries to bring a well-rounded perspective to his work. His career as a journalist began at a dynamic news startup, where he honed his reporting and storytelling skills for five years, gaining valuable experience in a fast-paced and evolving media landscape. Since 2018, he has been contributing to Asian Trader, where a standout feature of his work has been his in-depth interviews with award-winning retailers, which he transforms into insightful profiles that appear in each issue.
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The Issa brothers and TDR Capital will sell Asda's petrol forecourts business to EG Group, which they also own, for £750 million after they complete their deal to buy the supermarket group from Walmart.

They said on Wednesday that completion of the Asda acquisition was expected later this month.

In October, the Issa brothers and TDR agreed to buy a majority stake in Asda in a deal which gave the group an enterprise value of £6.8 billion.

In addition to selling Asda's forecourts business the Issa brothers and TDR plan to sell some of Asda's distribution assets to institutional real estate investors.

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