AIMCo and PSP Investments Invest in Petrol Station Giant EG Group

Posted on 11/13/2020

Euro Garages was co-founded by brothers Mohsin Issa and Zuber Issa in 2001 from a single site in Bury, Greater Manchester and had grown to c. 340 sites in the U.K. EG Group was formed in November 2016 when London-based TDR Capital merged European Forecourt Retail Group (EFR), which comprised over 1,100 retail sites in Benelux and France, with Euro Garages, a forecourt retail business in the United Kingdom. EG Group has TDR Capital as a major shareholder.

EG Group recently agreed to acquire Asda for £6.8 billion from Walmart.

Alberta Investment Management Corporation (AIMCo) and PSP Investments are becoming new shareholders of EG Group, while the Abu Dhabi Investment Authority (ADIA) will increase its existing stake in the EG holding company structure. The deal could give EG Group an equity value of more than £9 billion and an enterprise value of more than £15.1 billion.

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