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The Latest Breaking News from EG Group

Tesla's latest Supercharger move could solve a major headache for EV owners

Tesla announces it will sell its ultra-fast chargers to EG Group UK to massively expand the public charging network here and in Europe.

TechRadar

EG Group To Use Tesla's EV Chargers In Europe

EG Group, a British operator of fuel stations, announced today that will acquire Tesla's electric vehicle ultra-fast chargers for its evpoint business.

InsideEVs

Report pokes holes in fuel company plans for net zero

An analysis of net-zero plans released by petrol companies have questioned their green claims, including their reliance on 'dirty' hydrogen and carbon offsets.

AAP

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Issa brothers complete EG Group UK sale to Asda at a discount amid $500 million debt refinancing

Proceeds from the deal will be used to partially refinance EG Group's debt

Evening Standard

Asda issues £2.1 billion dividend as profits plunge 80% in year after Issa brothers takeover

Asda declared a £2.1 billion dividend the year after being bought by the billionaire Issa brothers, accounts published today show, as the pair sought to juggle debts around their sprawling retail and petrol forecourt empire.

Evening Standard

EG Group sales slide as billionaire Issa brothers work to slash debt

The retail conglomerate said it had successully extended its loans

Evening Standard

Bumpy ride for billionaire brothers who banked on Asda’s success

Blackburn’s Moshin and Zuber Issa took over the supermarket promising investment to make it the UK’s second-largest chain, but the pandemic and cost of living crisis meant it did not go to to plan

The Guardian - UK

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Billionaire Issa brothers sell dozens of stores to bring down EG Group debts

The billionaire Issa brothers have sold scores of convenience stores in the US in the latest step on their bid to bring down debts.

Evening Standard

Bakery chain Cooplands closes nine shops across country - full list of stores being shut

Cooplands is the largest family-owned bakery in the UK with more than 200 outlets across the country, but it was bought by EG Group in 2021 and it is making changes

Daily Mirror

Profits fall at billionaire Issa brothers' EG Group ahead of £2.3bn Asda deal

The figures come after a deal worth more than £2bn which will see Asda acquire the majority of EG Group's UK and Ireland operations was confirmed at the end of May

Birmingham Post

Issa brothers’ EG Group launches huge $6.1 billion debt refinancing deal as loan deadlines loom

The firm said it expected to reduce total net debt down from $9.8 billion in March

Evening Standard

Issa brothers’ EG Group shifted £3 billion in debt prior to Asda merger, filings show

EG Group shifted over £3 billion internally to settle debts in the US in the months leading up to the sale of its UK operations to Asda, the Standard understands.

Evening Standard

Asda's £611m deal to buy the Co-op's petrol station business cleared

Asda announced this week a new deal worth over £2bn to acquire the majority of EG Group's UK and Ireland operations

Birmingham Post

‘No price hikes’ in supermarket as Asda buys petrol station operator for £2.2 billion

Both sides of the deal claim it is not driven by the need to offload a large debt pile

Insider UK

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Birmingham Post

What Asda's £2.3bn deal means for prices, jobs and the future of EG Group

BusinessLive has taken a look at the deal in depth and what it could mean for each company and their customers

Birmingham Post

THG, Salford Red Devils and Hotter Shoes: The 12 latest top North West deals

BusinessLive has rounded up some of the latest top deals you should not miss

Manchester Evening News

Asda to buy group founded by billionaire Issa brothers for over £2bn

Mohsin and Zuber Issa started out with a single petrol station forecourt in Bury, Greater Manchester more than 20 years ago

The Guardian - UK

Asda to buy petrol stations group EG UK as it aims to overtake Sainsbury’s

Concerns raised over £770m of new loans and £450m in new funds from Issa brothers and TDR Capital

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Birmingham Post

Billionaire Issa brothers confirm Asda to buy UK operations of EG Group for over £2bn

The deal is expected to be completed in the fourth quarter of 2023

The Guardian - UK

Nvidia becomes world’s first chipmaker worth more than $1tn – as it happened

The AI boom is driving demand for chips from manufacturers like Nvidia, which has seen its share price soar

Evening Standard

Billionaire Issa brothers merge Asda with EG Group UK in £2.3 billion deal

The billionaire Issa brothers marked another milestone on their quest to slash their business empire’s heavy debt burden today as the pair finalised plans to merge the UK operations of petrol forecourt business EG Group with Asda in a £2.3 billion deal.

Wales Online

Asda announced huge expansion as it buys 350 petrol stations and 1,000 shops

The supermarket has spent £2.7billion on the deal

Birmingham Post

Billionaire Issa brothers to announce £10bn merger between Asda and EG Group

Both EG Group and Asda are chaired by former Marks & Spencer and Ocado Group chair Lord Rose

Birmingham Post

Asda issues statement after being accused of threats to cut pay of 7,000 staff

Asda is owned by the billionaire Issa brothers and TDR Capital

Birmingham Post

GMB Union calls on Kemi Badenoch to intervene in Issa brothers' proposed £12bn merger of Asda and EG Group

If a merger is completed, it would create a group with 581 supermarkets, 700 petrol forecourts and more than 100 convenience stores

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