EY quits as Asda’s auditor amid criticism of Issa brothers RETAIL Big Four accountant EY quit as Asda's auditor last summer in another blow to co-owners Moshin and Zuber Issa.
Asda: Issa brother to step back and hire new chief executive Retail Mohsin Issa, one half of the billionaire family duo which owns Asda, has confirmed he is stepping back from the day to day running of the business.
Issa Brothers mull sale of Asda properties as debt rises Asda Asda has launched a £8.6bn review of its property estate as the billionaire brothers behind the business scramble for options to reduce its debt pile, according to reports. According to reports in The Telegraph, owners Mohsin and Zuber Issa backed by private equity backers TDR Capital, are targeting the sale and leaseback of Asda’s supermarket [...]
Issa Brothers double-up Asda and EG Group to create forecourts giant May 30, 2023 Asda has confirmed plans to acquire the UK and Ireland division of petrol giant EG in a deal that will create a UK consumer giant with £30bn-worth of revenues a year. The supermarket, which is headed by the billionaire Issa brothers, has purchased the brothers’ other business, the EG Group, for £2.27bn. Asda is now [...]
EG Group: Issa brothers fry off entire KFC franchise to slash debt mountain December 6, 2023 EG Group, the debt-laden petrol group owned by the billionaire Issa Brothers, has offloaded all of its franchise KFC sites in the UK and Ireland to the US multinational behind the fried chicken empire.
Issa brothers’ LEON to more than double number of Asda coffee kiosks November 21, 2022 LEON is to more than double its self-serve coffee kiosks in the UK over the next couple of months, as the Issa brothers’ on-the-go food operator expands. The chain, which sells healthier alternatives of fast-food and is owned by the billionaire brothers behind supermarket Asda and petrol forecourt operator EG group, is to expand its [...]
Issa brothers in talks to sell petrol station empire May 1, 2022 The owners of Asda are in talks to offload their petrol forecourt business, according to a report in the Sunday Telegraph. The Blackburn-based Issa brothers have been in discussions with a Canadian shopping giant, Couche-Tard. The forecourt business has been remarkably successful for the Issa brothers and their firm, EG Group. It is said to [...]
Issa brothers’ EG Group posts subdued profit due to cost of living pressures on consumers September 1, 2022 The Issa brothers’ EG Group has posted subdued profit for the second quarter, as the petrol station forecourt operator said “the cost-of-living squeeze remains front of mind for all of us.” EG Group saw group EBITDA slump 6.5 per cent to $355m (£308m), for the three months to 30 June, it shared on Thursday. The [...]
Morrisons fends off Issa brothers’ EG Group in battle for McColl’s May 9, 2022 Morrisons has emerged victorious against EG Group in gaining control over McColl’s Retail Group, it has been reported. The supermarket giant had upped its offer to snap up the beleaguered newsagent operator after a last minute battle with the Issa brothers’ EG Group. According to Sky News, the chain beat down its competition after making [...]
Issa brothers mull petrol empire sale as Asda owners eye Boots bid May 2, 2022 The billionaire brothers behind the blockbuster Asda takeover are reportedly in talks to sell their petrol forecourt business for some £12.bn. Zuber and Mohsin Issa are thought to be considering a proposal for Boots, with the high street chemist’s US owners hoping for a £7bn price tag. A sale of EG Group would unlock billions [...]