Asda to Acquire EG Group's UK and Ireland Petrol Station Business for £2.27bn
Asda, a UK supermarket chain owned by the Issa brothers and TDR Capital, will acquire the UK and Ireland petrol station business of EG Group for £2.27bn.
The deal will create a company with combined revenues of nearly £30bn and around 170,000 employees, nearly 600 supermarkets and 700 petrol forecourts.
The acquisition of EG Group's petrol stations and food-to-go locations will help Asda expand its convenience retail business and bring its highly competitive fuel offer to more customers.
However, the GMB union has raised concerns that the merger could threaten food supplies, increase fuel prices, and only benefit the "super-wealthy elite." The Competition and Markets Authority said the merger would not qualify for a review.
The acquisition of EG Group's petrol stations and food-to-go locations will help Asda expand its convenience retail business and bring its highly competitive fuel offer to more customers.
However, the GMB union has raised concerns that the merger could threaten food supplies, increase fuel prices, and only benefit the "super-wealthy elite." The Competition and Markets Authority said the merger would not qualify for a review.
