EG Group refinances following Asda deal

EG shopfront

Forecourts giant EG Group has reported “significant strategic progress on deleveraging and refinancing” following the sale of its UK and Ireland division to Asda.

The retailer, which like Asda is controlled by the Issa brothers, also said it had traded in line with expectations for the first quarter.

EG said the sale of its UK and Ireland business to Asda “has delivered significant funding for the group to address upcoming maturities through material debt repayment”.

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