EG Group to acquire Asda’s forecourt business
EG Group has agreed to acquire Asda’s forecourt business in a deal worth £750 million.
The buyer of the Asda supermarket chain said it expects to close the transaction in the second quarter of 2021, although it will be subject to approval by the Competition and Markets Authority.
The purchase will include petrol filling stations, car washes and ancillary land.
In a statement, EG Group said the forecourts will remain an integral part of the broader retail locations where they are situated and will continue to be branded as Asda.
Zuber Issa and Mohsin Issa, co-founders and co-chief executives of EG Group, said: “We are excited to have the opportunity to further strengthen our network in the UK through the proposed acquisition of Asda’s forecourt business, which will enhance our position as a major independent forecourt operator and provide a platform for future growth of the combined network.”
