Asda buyers aim to spin off petrol forecourts in £750m deal
by Sarah Butler from Economics | The Guardian on (#5DPZP)
Billionaire Issa brothers' EG Group will buy forecourts to help fund 6.8m takeover
The buyers of Asda have announced plans to sell off its petrol forecourts and distribution centres to help fund a 6.8bn takeover.
The private equity firm TDR Capital and the billionaire Issa brothers aim to raise 950m from the sale of Asda's distribution centres, which will then be leased back, while the group's petrol stations will be bought by the brothers' own EG Group for 750m.
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