Issa brothers closing in on £13bn New York listing
The billionaire Issa brothers are eyeing a £13billion US listing for their petrol station empire, in a fresh snub for London.
EG Group could make its market debut next year, in what means a huge payout for Zuber and Mohsin Issa.
Banks have been lined up for a float, according to reports in Mergermarket and The Sunday Telegraph.
The company could be valued at around £13billion – 13 times last year’s annual profits of £1.1billion.
Happy days: EG Group could make its market debut next year, in what means a huge payout for Zuber and Mohsin Issa
The New York stock market is thought to be the preferred bourse because the US is EG Group’s biggest market.
The group operates 1,500 convenience stores on petrol forecourts including brands Cumberland Farms and Quik Stop.
EG Group is co-owned by the Issa brothers and British private equity firm TDR
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