EG Group is reportedly set to launch an Initial Public Offering in the US, with the floatation said to be aiming to raise £1bn and the firm looking for a $9bn (£6.8bn) valuation.
The Financial Times says the company has filed ‘confidential’ plans for in IPO, with this technique allowing a company to undergo regulatory review without revealing its full financial position, thereby preventing competitors from gaining an advantage.
EG Group was founded by Mohsin and Zuber Issa in 2021 as Euro Garages and is now half owned by private-equity firm TDR Capital, with the remaining stake split equally between the brothers. The firm has around 5,600 sites across Europe and the US and posted revenue of £24.2bn in 2024, with adjusted earnings before interest, tax, depreciation and amortisation of £1.4bn.
In February this year EG Group sold its French forecourts to EG On The Move, a separate firm owned by Zuber Issa.
Last year EG Group sold off its 540 Australian forecourts and convenience stores for £530m, having previously raised £367m by exiting the Italian market.
In August 2025 Zuber Issa told the Financial Times that rather than issue an IPO the company should sell off its US forecourts, a move he expected would clear its debts, which at the time were believed to be around £5.3bn.
“The shareholders are still thinking about the options”, he said. “Other options would be trying to sell the US in its entirety, and I think that should be the option we should do.”
