New Asda owners sell stake in EG Group empire

Issa brothers

Asda’s new owners the Issa brothers have offloaded a stake worth hundreds of millions of pounds in their EG Group petrol forecourts business.

Mohsin and Zuber Issa, the billionaire brothers from Blackburn who founded EG 19 years ago, have sold shares to an Abu Dhabi sovereign investor and two Canadian pension funds.  

The Abu Dhabi Investment Authority is topping up its existing stake in the group, which owns more than 6,000 petrol forecourts across the globe.

Canada’s Alberta Investment Management Corporation, which owns London City airport, and PSP Investments, the pension fund for Canadian public services, have also snapped up stakes in the group from the Issa brothers. 

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