Published 11 months ago

Asda poised to announce £10bn merger with petrol stations group EG

Summary by Ground News

EG Group and Asda are set to announce a £10bn merger on Friday. The combined group will operate nearly 600 supermarkets, 700 petrol forecourts and 100 convenience stores. It will represent the biggest deal in financial terms in the career of Lord Rose of Monewden, the former Marks & Spencer and Ocado Group chairman.

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The Guardian

Asda poised to announce £10bn merger with petrol stations group EG

Deal would help Asda move into convenience retailing and cut costs at merged entity by about £100m, as well as reduce EG’s debts

11 months ago·London, United Kingdom

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The Independent

Asda finalising £10bn merger with EG Group – reports

Sky News said the billionaire Issa Brothers were planning to combine EG Group with Asda, in a deal expected to be announced on Friday.

11 months ago·London, United Kingdom

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Irish Independent

Asda in £10bn merger with petrol stations chain

The owners of Asda will announce a £10bn tie-up of the supermarket with their petrol station empire on Friday, according to a report.

11 months ago·Ireland

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Evening Standard

Asda finalising £10bn merger with EG Group – reports

Sky News said the billionaire Issa Brothers were planning to combine EG Group with Asda, in a deal expected to be announced on Friday.

11 months ago·London, United Kingdom

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Sky News UK

Asda owners to unveil £10bn merger with petrol stations giant EG

A tie-up will include more than £500m of debt funding from Apollo Global Management – one of the unsuccessful bidders for Asda during its auction in 2020, Sky News learns.

11 months ago·United Kingdom

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City AM

Asda owners tying up £10bn merger with petrol giant EG

The billionaire owners of Asda and petrol giant EG are reportedly gearing up to tie a ribbon on their £10bn merger in Britain. The deal, which will create a cluster of 170,000 employees and revenues of £30bn, is set to be announced on Friday, according to reports in Sky News. If confirmed, the group will also now operate nearly 1,400 outlets split between a range of supermarkets, petrol stations and convenience stores. It comes as Asda previo…

11 months ago·London, United Kingdom

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