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Birmingham Post
Birmingham Post
Business
Jon Robinson

Billionaire Issa brothers’ EG Group in $1.5bn US property sale to slash debt

EG Group EG Zuber Issa United States Asda TDR Capital Mike Ashley Frasers Group

The retail and petrol station empire run by the billionaire owners of Asda has agreed a sale and leaseback deal in the US for around $1.5bn.

EG Group has disposed of a portfolio of its sites on the east coast of the US to Realty Income Corporation.

The portfolio, which EG America will continue to operate and trade, comprises 415 store assets under the Cumberland Farms, Fastrac, Tom Thumb and Sprint banners.

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