EG Group co-founder Zuber Issa is planning to stand down as co-chief executive of the petrol station empire that he built, leaving his brother Mohsin Issa to lead the business.
Salim Hasan, the chief operating officer of EG Group, also intends to step down, however, the prospective changes will only happen if Zuber Issa completes a deal to buy a selection of sites from EG Group, according to a bond prospectus seen by Bloomberg News.
EG Group investors have been told that it is in “active discussions with Zuber regarding the sale” of UK assets.
The Issa brothers founded EG Group in 2001, and it is now co-owned by the brothers and private equity firm TDR Capital. The brothers and TDR also bought Asda in 2021 in a £6.8bn deal.
Full story at Zuber Issa to step down as EG Group CEO as he eyes petrol site deal - Retail Gazette