Skip to content
Search
AI Powered
Human content, AI powered search.
Latest Stories

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)
Getty Images
Kiran Paul
By Kiran PaulFeb 03, 2021
Kiran Paul
See Full Bio

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.

asdaeg group

Related News

Cocoa beans are pictured next to a warehouse at the village of Atroni, near Sunyani, Ghana
Industry News

How a hedge fund exodus reshaped global cocoa markets

More for you

A woman enters the Selfridges department store

A woman enters the Selfridges department store on December 13, 2024 in London, England

Photo by Leon Neal/Getty Images

Retail faces mixed fortunes in 2025 amid cost pressures, AI opportunities, and high street revival


The UK retail sector is bracing for a challenging but opportunity-filled 2025, according to Jacqui Baker, head of retail at RSM UK. While the industry grapples with rising costs and heightened crime, advancements in artificial intelligence and a revival of the high street offer potential pathways to growth, she said.

Keep ReadingShow less
unsafe soft drinks seized in Southend

Unsafe soft drinks seized in Southend

Photo: Southend-on-Sea City Council

1,100 unsafe soft drinks seized in Southend safety crackdown

Southend-on-Sea City Council officials have secured food condemnation orders from Chelmsford Magistrates Court, resulting in the seizure and destruction of 1,100 unauthorised soft drinks.

The condemned drinks, including Mountain Dew, 7-UP, Mirinda, and G Fuel energy drinks, were found during routine inspections of food businesses across Southend by the council’s environmental health officers.

Keep ReadingShow less
Charity Super.Mkt at Brent Cross Shopping centre in north London

A customer browses clothes inside Charity Super.Mkt at Brent Cross Shopping centre in north London on, December 17, 2024

Photo by JUSTIN TALLIS/AFP via Getty Images

Brits kindle Christmas spirit with second-hand gifts

Bursting with customers one afternoon the week before Christmas, a second-hand charity shop in London's Marylebone High Street looked even busier than the upscale retailers surrounding it.

One man grabbed two puzzle sets and a giant plush toy as a present for friends, another picked out a notebook for his wife.

Keep ReadingShow less
Nothing is more important than your Mental Elf

Nothing is more important than your Mental Elf

Lancashire Mind’s 11th Mental Elf fun run was its biggest and best yet – a sell-out event with more than 400 people running and walking in aid of the mental charity, plus dozens more volunteering to make the day a huge success.

The winter sun shone on Worden Park in Leyland as families gathered for either a 5K course, a 2K run, or a Challenge Yours’Elf distance which saw many people running 10K with the usual running gear replaced with jazzy elf leggings, tinsel and Christmas hats.

Keep ReadingShow less
A woman walks past a window display promoting an ongoing sale

A woman walks past a window display promoting an ongoing sale, on December 13, 2024 in London, England.

Photo by Leon Neal/Getty Images

Retail sales disappoint before Christmas

UK retail sales rose less than expected in the runup to Christmas, according to official data Friday that deals a fresh blow to government hopes of growing the economy.

Separate figures revealed a temporary reprieve for prime minister Keir Starmer, however, as public borrowing fell sharply in November.

Keep ReadingShow less