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.
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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