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The Latest Breaking News from Zuber Issa

Asda pays the price for big debt and turmoil in the boardroom

With its shelves emptying and its billionaire owners in retreat, the struggling retailer has had to call in its veteran chair as chief executive

The Guardian - UK

Former M&S boss Stuart Rose to run struggling Asda as co-owner steps back

Lord Rose is chair of supermarket and will take over day-to-day duties from Mohsin Issa

The Guardian - UK

At Asda and Morrisons it was always about financial engineering

The need to keep the buyout arithmetic on track has been a drag on performance, and neither deal was aimed at growth

The Guardian - UK

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Union calls for urgent action to protect jobs as Asda ‘fights for survival’

GMB accuses owner TDR Capital of mismanagement as sales at supermarket fall 6%

The Guardian - UK

Asda-owning Issa brothers divide their empire as Zuber sells supermarket stake

Union warns of risks to shoppers and staff after sale of younger brother’s 22.5% stake to private equity co-owner TDR Capital

The Guardian - UK

End of Issa brothers' close partnership as Zuber Issa exits Asda, quits as EG Group Co-CEO

The brothers had jointly built up a retail and petrol forecourt empire over years

Evening Standard

Issa brothers net worth: Are the Asda owning duo really billionaires?

According to the Sunday Times Rich List, Mohsin and Zuber Issa are worth £5 billion, but Bloomberg gives a much lower wealth estimate

Evening Standard

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Zuber Issa to acquire UK arm of EG Group by the end of June

The deal is the latest sign in an apparent rift between the billionaire Issa brothers, who also own Asda

Evening Standard

Billionaire Issa brother nears deal to sell Asda stake to TDR Capital

Zuber Issa began talks earlier this year about selling his stake in Asda, and plans to step back as co-chief executive officer of EG Group

Evening Standard

Asda owners used petrol forecourt firm to repay private jet loans

Billionaire Issa brothers borrowed $7m from EG Group in 2022 to repay debt taken on to buy jets

The Guardian - UK

Issa brother ‘eyes sale’ of Asda stake to focus on petrol station business

Zuber Issa reportedly in talks to offload 22.5% share of supermarket in parting of ways with co-owner brother

The Guardian - UK

Asda owner faces rise in servicing £4bn debt, MPs told

Group faces £30m rise in debt costs, Asda bosses tell MPs on business and trade committee

The Guardian - UK

Tesla's latest Supercharger move could solve a major headache for EV owners

Tesla announces it will sell its ultra-fast chargers to EG Group UK to massively expand the public charging network here and in Europe.

TechRadar

Asda issues £2.1 billion dividend as profits plunge 80% in year after Issa brothers takeover

Asda declared a £2.1 billion dividend the year after being bought by the billionaire Issa brothers, accounts published today show, as the pair sought to juggle debts around their sprawling retail and petrol forecourt empire.

Evening Standard

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Evening Standard

EG Group sales slide as billionaire Issa brothers work to slash debt

The retail conglomerate said it had successully extended its loans

The Guardian - UK

Bumpy ride for billionaire brothers who banked on Asda’s success

Blackburn’s Moshin and Zuber Issa took over the supermarket promising investment to make it the UK’s second-largest chain, but the pandemic and cost of living crisis meant it did not go to to plan

Evening Standard

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.

The Guardian - UK

Asda’s profit margins at the pump have trebled, MPs told

Competition regulator tells business committee of ‘significant change’ in retailer’s fuel pricing

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Daily Mirror

Asda bosses enjoy flash cars and private jets as drivers suffer at the pumps

A neighbour in Blackburn – where the Asda owners live at mansions in a gated complex – told how they spotted Zuber Issa in a black Rolls Royce and Mohsin at the wheel of a top-of-the-range Land Rover

Birmingham Post

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

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

Manchester Evening News

Asda to buy group founded by billionaire Issa brothers for over £2bn

Mohsin and Zuber Issa started out with a single petrol station forecourt in Bury, Greater Manchester more than 20 years ago

The Guardian - UK

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

Birmingham Post

Billionaire Issa brothers confirm Asda to buy UK operations of EG Group for over £2bn

The deal is expected to be completed in the fourth quarter of 2023

Birmingham Post

Billionaire Issa brothers to announce £10bn merger between Asda and EG Group

Both EG Group and Asda are chaired by former Marks & Spencer and Ocado Group chair Lord Rose

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