Euro Garages 'considering £10bn flotation'

Euro Garages

American news outlet Bloomberg is reporting that Blackburn based Euro Garages is considering an IPO which could value the business at more than £10bn.

The petrol forecourt operator was founded by brothers Mohsin and Zuber Issa in 2001 with a £150,000 investment. Their 56 per cent stake would be worth at least £5bn if the flotation goes ahead as expected in the second half of 2020.

Euro Garages is also backed by private equity firm TDR Capital, which bought a minority stake for just over £1bn in 2015.

EG has been undertaking rapid international expansion in recent years, acquiring more than 1,700 sites in the USA and making its first moves into mainland Europe and Australia.

EG Group did not comment on the reports when contacted by Lancashire Business View.

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