The owners of Asda and petrol stations giant EG Group are set to finalise a £10bn merger of their operations, according to a report by Sky News.
According to the report, the billionaire Issa brothers behind EG Group and TDR Capital are aiming to announce the tie-up today.
The merger of Asda and EG Group would result in a business with 170,000 employees and annual revenues of close to £30bn.
Talks about a combination of Asda and EG UK have been underway for more than six months and were initially reported by The Sunday Times in January.
The Issa brothers already own both of the businesses but merging the two could help the forecourt company, which has heavy debts.
Last month, Bloomberg News said the tie-up would generate more than £100m of synergies between the two businesses.
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