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The Latest Breaking News from EG

Billionaire Issa brothers sell dozens of stores to bring down EG Group debts

The billionaire Issa brothers have sold scores of convenience stores in the US in the latest step on their bid to bring down debts.

Evening Standard

Profits fall at billionaire Issa brothers' EG Group ahead of £2.3bn Asda deal

The figures come after a deal worth more than £2bn which will see Asda acquire the majority of EG Group's UK and Ireland operations was confirmed at the end of May

Birmingham Post

Which Energy Stock Should You Invest In: Marathon Oil (MRO) or Cheniere Energy (LNG)

After a stellar performance in 2022, the energy sector is expected to maintain its growth momentum this year. Strong energy demand worldwide and massive oil production cuts could significantly lift oil and gas prices. Energy producers Marathon Oil (MRO) and Cheniere Energy (LNG) are poised to benefit from the sector’s…

StockNews.com

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‘No price hikes’ in supermarket as Asda buys petrol station operator for £2.2 billion

Both sides of the deal claim it is not driven by the need to offload a large debt pile

Insider UK

What Asda's £2.3bn deal means for prices, jobs and the future of EG Group

BusinessLive has taken a look at the deal in depth and what it could mean for each company and their customers

Birmingham Post

Marathon Oil Corporation (MRO) or Shell PLC ADR (SHEL): Which Stock Is a Buy?

Despite lingering macroeconomic headwinds, the energy sector is well-placed for significant growth this year. Sustained energy demand worldwide and constrained supplies are expected to boost oil and gas prices. Energy producers Marathon Oil (MRO) and Shell (SHEL) should benefit from the sector’s bright growth prospects. But which of these stocks…

StockNews.com

Asda to buy petrol stations group EG UK as it aims to overtake Sainsbury’s

Concerns raised over £770m of new loans and £450m in new funds from Issa brothers and TDR Capital

The Guardian - UK

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Asda announced huge expansion as it buys 350 petrol stations and 1,000 shops

The supermarket has spent £2.7billion on the deal

Wales Online

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

The Guardian - UK

Asda plans 5% pay cut for about 7,000 workers just outside London

Supermarket is consulting about removing a 60p an hour supplement at 39 stores outside M25 despite the cost of living crisis

The Guardian - UK

Work well underway to transform former Eglantine Inn

The Clover Group said the bar's focus will be on showing a range of sporting events blended with a great food offering

Belfast Live

North East business life: charity, community and award events in the region

Companies featuring in this week's round-up include Bellway, Newcastle Building Society and Sage Foundation

Birmingham Post

Profits rise to almost $1.5bn at billionaire Issa brothers' EG Group as sales surge 25%

The billionaires also own Asda separately to EG Group

Birmingham Post

Billionaire Issa brothers agree $1.5bn 'sale and leaseback' deal for EG Group in USA

EG Group said it will use the net proceeds to help repay debt

Manchester Evening News

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Birmingham Post

Billionaire Issa brothers’ EG Group in $1.5bn US property sale to slash debt

The brothers also co-own Asda with TDR Capital

Evening Standard

Billionaire Issa brothers’ EG Group sells $1.5 billion in property in bid to slash debt burden

The billionaire Issa brothers’ business EG Group has sold $1.5 billion worth of property in the US as the pair scramble to bring down the firm’s debt burden amid soaring interest rates.

Evening Standard

Pressure on Asda owners Issa brothers as EG Group debt interest payments jump £200 million

Annual accounts for EG Finco, the finance subsidiary of Mohsin and Zuber Issa’s EG Group, are now several weeks overdue

Birmingham Post

Asda-owning billionaire Issa brothers 'eyeing £1bn sale' of US petrol stations

EG Group, whose brands include Euro Garages, Coopland and Leon, has over 6,600 sites across the world

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Birmingham Post

High fuel prices help profits rise at Issa brothers' EG Group

The billionaire brothers also separately own Asda alongside TDR Capital

Birmingham Post

Billionaire Issa brothers plot major Leon expansion across the UK

Leon currently has 65 coffee-to-go kiosks in EG’s stores on its forecourts and 33 in Asda

Belfast Live

The Clover Group buys Belfast bar the Eglantine Inn creating 30 new jobs and planning £500k refurbishment

The venue was first designed in 1988 by the same architects as the iconic Crown Bar

Birmingham Post

The top team running the EG Group empire that was founded by the billionaire Issa brothers

BusinessLive profiles the top team running EG Group

Birmingham Post

Billionaire Issa brothers' EG Group announces deal with McLaren F1

EG Group's brands include Euro Garages, Leon and Cooplands

The Independent UK

Forty unemployed young people hired after Skill Up Step Up training

The young people are part of the first wave to benefit from the companies who pledged to our campaign

Evening Standard

‘I got my dream role. I’m finally in the right place’

Through our Skill Up Step Up campaign the Evening Standard pledged to get 1,000 unemployed young Londoners into work. David Cohen speaks to two successful candidates

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