LONDON – British supermarket chain Asda could be merged with petrol forecourts business EG Group under plans being explored by the owners of both companies, the London-based Times reported on Saturday.
The combination would create a retail giant worth between 11 billion and 13 billion pounds ($13.6 billion-$16.1 billion) which would have more than 581 supermarkets, 700 petrol forecourts and 100 convenience stores in Britain, the newspaper said.
Brothers Zuber and Mohsin Issa and London-based private equity group TDR Capital have owned EG Group together since 2016. They later bought Asda.
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