EG Group, the forecourt firm founded in 2001 by Mohsin and Zuber Issa, is set to be listed on the US stock market for an estimated $9bn (£6.7bn).
The company operates around 4,300 retail and fuel sites worldwide and, while separate from the UK-focussed EG On The Move, is half owned by the Issa brothers, with the remaining stake held by private-equity firm TDR capital.
Sky News reports EG Group is meeting with banks including Barclays, Bank of America, Goldman Sachs, JP Morgan and Morgan Stanley as the firm courts an underwriter for the initial public offering.
In August last year EG Group sought to pay down its debts by offloading its Australian operations for around £530m, while in December it sold its Italian fuel and convenience business for roughly £367m.
The company’s Uk presence comprises around 150 Starbucks outlets, but it no longer operates petrol stations here, selling off its last forecourt in November 2024.
