When the deal was first confirmed earlier this year, the purchase price for the divisions was announced as £2.27bn
Blackburn billionaires Mohsin and Zuber Issa have completed the sale of the majority of their EG Group's UK and Ireland operations to Asda.
The Issa brothers, who both attended Witton Park High School, were brought up by Indian-born Vali and Zubeda who came to the UK from Gujarat in the 1960s to work in Lancashire's textile industry. Their parents later ran a petrol pump which no doubt sparked the inspiration behind the creation of Euro Garages by Mohsin and Zuber in 2001.EG Group will continue to operate in the USA, Australia, Germany, France, Italy, the Netherlands, Luxembourg and Belgium as well as 32 sites in the UK.
In a statement, the group said: "The deal represents a transformational step for EG Group and strengthens its platform to further invest in its proven and successful strategy to rollout foodservice, grocery and merchandise to create multi-purpose convenience retail sites across its international estate. The group will also continue its strategy to deploy emerging fuels and EV chargers, under its proprietary brand, evpoint, across the existing site network, as well as third-party locations.
The group has also announced the launch of up to a $500m Term Loan B add-on to existing term loans due February 2028, with further refinancing to follow. Proceeds from the transaction will be used to partially refinance the remaining 2025 maturities.
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