EG Group plan stock market float valued at £10bn
Founders of the business Mohsin Issa, Zuber Issa – who already boast a combined net worth of £1.2bn – own EG alongside private equity giant TDR Capital.
By:
Radhakrishna N S
EG Group is planning a stock market float, which could see it valued at £10 billion.
Founders of the business Mohsin Issa, Zuber Issa – who already boast a combined net worth of £1.2bn – own EG alongside private equity giant TDR Capital.
The British business led by the two brothers is the largest independent petrol station operator and employs around 25,000 people and earns annual revenues of over £15.8bn.
The company has been on a speedy expansion spree, tripling site numbers in 2018 and adding an additional 1,000 locations so far, this year.
A potential stock market float is one of the many options being explored as part of the expansion strategies of the company, according to sources close to the company.
EG is also reportedly in early discussions with lenders.
Last year, EG Group recorded a £121m pre-tax loss.
The pair bought a £25m mansion in Knightsbridge in 2018. They also received approval to build five identical mansions in Blackburn last year.
Mohsin and Zuber Issa, 48 and 47, launched their first forecourt in Bury in 2001 and have since transformed their business significantly. EG Group has 4,700 sites in the US and Europe.
Zuber and Mohsin were born in Lancashire after their father moved to Britain from India.
