One of the billionaire brothers behind EG Group has urged the petrol station behemoth to sell off its $5bn (£3.7bn) US business in an apparent split with the company’s private equity backer.
Zuber Issa, who owns a 25pc stake in EG, said the company should hive off its American forecourts to a single buyer rather than pursuing a listing of the entire group as planned.
Mr Issa, along with his brother Mohsin, who also owns 25pc, built EG Group from a single station in Bury, Manchester into a major empire spanning hundreds of petrol stations.
EG is now 50pc owned by private equity group TDR Capital, which has been laying plans for a float of the business in New York.
However, in an apparent rebuke to TDR’s plans, Mr Issa has called for the separate sale of the US business rather than an outright float of the whole company.
Full story Issa billionaire demands petrol station empire sell off US arm
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