Asda owners sell 27 petrol stations

The Issa brothers’ EG Group has agreed to sell 27 petrol stations to Park Garage Group. EG Group is selling the stations to address the concerns of the competition regulator relating to the brothers’ acquisition of the British supermarket Asda. The Issa brothers completed the purchase of a majority stake in Asda in February in a deal valuing the supermarket chain at £6.8m. They acquired Asda’s 323 petrol stations separately for £750m. Sunil Tandon, managing director of Park Garage Group, said: “We are delighted to have reached an agreement to acquire these sites, particularly due to their quality, which has been cultivated by EG Group.” Simon Galway, head of OPRE Roadside & Automotive at CBRE, which advised Park Garage Group on the acquisition, said the deal would enable the retailer to “fulfil their growth plans”. Family-owned Park Garage Group operates 50 sites in the UK under the Park & Shop brand.