The Issa brothers are considering floating their petrol station empire EG Group in the United States for as much as $14bn (£11bn).
The business has sounded out banks for a possible listing in 2025, which would result in a significant payday for the billionaire brothers and their private equity partner TDR Capital, The Telegraph reported.
It is thought that EG Group is leaning heavily towards a listing in the US – which is the company’s biggest market – despite the Issa brothers’ roots in Blackburn.
However, it is understood that any prospective float is still in its early stages and no final decision has been made.
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The move could land EG Group an estimated valuation of around £11.4bn – 13 times last year’s underlying earnings of $1.1bn.
The business has gone on a debt-fuelled expansion in recent years, which has seen it strike a $2.2bn deal to acquire 800 convenience stores from retail giant Kroger in America.
The forecourt giant sold the bulk of its British facilities to in October last year for £2bn to Asda, the supermarket chain the brothers owned alongside TDR.
Zuber Issa sold his 22.5% stake in Asda in June and used the proceeds to buy out EG’s remaining UK locations and launch a rival business, EG on The Move. He retains his shareholding in EG Group.
EG Group declined to comment.
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