EG Group has agreed to acquire certain assets of Asda, comprising its petrol filling stations, car washes and ancillary land for a value of £750 million ($1.2 billion).
The acquisition of the forecourt business comes after the Issa brothers and TDR Capital LLP had been given the green light to acquire a majority ownership stake in the Asda supermarket business.
The forecourts, which will remain an integral part of the broader retail locations where they are situated, will continue to be Asda branded and will remain a low price leader in the fuel market, according to EG Group.
