Asda owners weigh up £12bn merger with EG Group petrol stations
Billionaire brothers Mohsin and Zuber Issa are exploring a merger of Asda and their petrol forecourt empire.
Merger talks are being discussed ahead of refinancing at EG Group, which has £7bn of debt due in 2025, according to The Sunday Times.
The Issa brothers and joint owner TDR Capital hope that by combining both profitable businesses – supermarket giant Asda, which they bought two years ago, and EG Group, their sprawling petrol forecourt empire – they will be able to refinance the debt on far more favourable terms.
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