EG Group

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Wednesday, 14 February, 2024

Asda owners borrowed $7mn more from petrol station empire to repay private jet loans
Issa brothers originally took on €39mn debt from EG Group to buy the two Bombardier planes in 2018
Sunday, 4 June, 2023

Asda Group
Asda’s owners recycle proceeds of earlier deal to fund EG takeover
Promised £450mn of extra equity comes from a warehouse sale and leaseback that was part of the original buyout
Tuesday, 30 May, 2023

LexAsda Group
Asda/EG: property keeps Issas’ financial high-wire act in balance Premium content
Sceptics question how long the Issas can keep it up, but private entrepreneurs have flexibility quoted businesses lack
Tuesday, 30 May, 2023

Asda Group
Asda chair defends £2.3bn deal for UK operations of sister group EG
Stuart Rose says purchase of businesses from heavily indebted EG will help Asda’s push into convenience sector
Tuesday, 18 April, 2023

Due Diligence
Private equity: how to buy a £6.8bn company for £200mn Premium content
Plus, Apollo courts THG in its latest UK takeover play and an activist investor takes on Rome’s powerful politicians
Friday, 14 April, 2023

News in-depthUK retail industry
Asda price: how buyers bagged a £6.8bn supermarket chain for £200mn
Jersey and Luxembourg filings reveal financial engineering behind the UK’s biggest leveraged buyout in a decade
Friday, 28 October, 2022

Issa brothers bought private jets with interest-free loans from EG Group
Asda owners will be charged backdated interest after concerns were raised internally about arrangement
Tuesday, 17 May, 2022

McColl's Retail Group PLC
Morrisons paid £182mn and waived debt to bag McColl’s
EG Group offered ‘materially’ more cash but position on creditors aided bid, say PwC documents
Sunday, 8 May, 2022

McColl's Retail Group PLC
Morrisons and EG make last-ditch bids for McColl’s
Battle for struggling UK convenience chain prompts Asda owner to pledge pension funding
Friday, 6 May, 2022

McColl's Retail Group PLC
Petrol station group EG attempts to buy McColl’s out of administration
Convenience store chain with 16,000 staff collapsed after rejecting proposal from Morrisons
Wednesday, 2 March, 2022

EG Group seeks audit delay for third year running
Petrol station group owned by Asda backers cites increased size and complexity
Wednesday, 29 December, 2021

Retail & Consumer industry
Rise of electric charging drives food groups to UK motorway service stations
Roadside sites offer growth potential to businesses grappling with pandemic impact
Monday, 8 November, 2021

Companies2 min
EG Group: building an empire on debt-fuelled growth
The business has been built on debt, low interest rates and bold ambition
Thursday, 21 October, 2021

Asda Group
Asda piles high with debt after petrol station deal collapses
Plugging a £750m hole leaves the supermarket chain in a weaker position in a tough economy
Thursday, 21 October, 2021

LexAsda Group
Asda/Issa bros: petrol station sale fail adds to leverage Premium content
Supermarket chain must help find the £750m the deal would have generated
Monday, 18 October, 2021

Asda to take on extra £500m debt after petrol station sale collapses
Supermarket will also shell out £250m as result of failed deal with its owners EG Group
Friday, 20 August, 2021

News in-depthWm Morrison Supermarkets PLC
Future of petrol pumps fuels Morrisons bid battle
Rival consortiums consider tie-ups or sales for UK forecourts controlled by supermarket group
Sunday, 18 April, 2021

EG Group buys restaurant chain Leon for £100m
Issa brothers’ petrol station business continues expansion into food
Thursday, 25 February, 2021

EG Group to raise extra $1.8bn debt to buy Asda petrol stations
Fresh financing will add to the highly leveraged group’s existing $9bn debt pile
Friday, 12 February, 2021

Due Diligence
Debt markets: pandemic? What pandemic? Premium content
The wall of money chasing yield is reshaping the corporate world
Thursday, 11 February, 2021

High yield bonds
Billionaire Asda buyers raise £2.75bn in record sterling junk bond sale
‘Blowout deal’ garners strong demand as debt investors hunt for returns
Thursday, 4 February, 2021

Due Diligence
Private equity: how to buy a £6.8bn company for less than £800m Premium content
The billionaire Issa brothers’ leveraged buyout of supermarket chain Asda is a lesson in debt-fuelled dealmaking
Thursday, 4 February, 2021

Billionaire Asda buyers to stump up less than £800m to clinch £6.8bn takeover
Deal fronted by Mohsin and Zuber Issa will be largely funded by asset disposals and debt deals
Wednesday, 3 February, 2021

Asda Group
Asda’s buyers to sell off assets to fund £6.8bn deal
New owners plan to sell supermarket’s petrol stations to themselves and raise £3.5bn in debt
Thursday, 21 January, 2021

Stuart Rose appointed EG Group chair
Retail veteran brought in to improve governance at UK petrol stations group