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The Latest Breaking News from EG

What to Expect From Everest Group's Next Quarterly Earnings Report

Everest Group is expected to release its fiscal second-quarter earnings this month, and analysts project a double-digit profit increase.

Barchart

Zuber Issa to acquire UK arm of EG Group by the end of June

The deal is the latest sign in an apparent rift between the billionaire Issa brothers, who also own Asda

Evening Standard

Billionaire Issa brother nears deal to sell Asda stake to TDR Capital

Zuber Issa began talks earlier this year about selling his stake in Asda, and plans to step back as co-chief executive officer of EG Group

Evening Standard

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Asda owners used petrol forecourt firm to repay private jet loans

Billionaire Issa brothers borrowed $7m from EG Group in 2022 to repay debt taken on to buy jets

The Guardian - UK

Issa brother ‘eyes sale’ of Asda stake to focus on petrol station business

Zuber Issa reportedly in talks to offload 22.5% share of supermarket in parting of ways with co-owner brother

The Guardian - UK

Trump defamation trial: Closing arguments end, jury deliberations begin

Get the latest update on the defamation damages trial against Donald Trump, as our expert discusses the prosecution and defense arguments, jury instruction...

Top News

EG Group To Use Tesla's EV Chargers In Europe

EG Group, a British operator of fuel stations, announced today that will acquire Tesla's electric vehicle ultra-fast chargers for its evpoint business.

InsideEVs

Egypt outlet blocked over Gaza-Sinai report has long been in Sisi govt’s crosshairs

Egypt has reportedly imposed a six-month ban on the website of Mada Masr, one of its few remaining independent media outlets, after a report that relied on interviews with anonymous political and diplomatic sources to claim that President Abdel Fattah al-Sisi’s regime was preparing to accept Palestinian refugees fleeing Israel’s…

Newslaundry

Issa brothers complete EG Group UK sale to Asda at a discount amid $500 million debt refinancing

Proceeds from the deal will be used to partially refinance EG Group's debt

Evening Standard

Marathon Oil (MRO) vs. Marathon Petroleum (MPC): Which Energy Stock Has the Potential for Great Momentum in September

A pickup in demand for oil and gas and constrained supplies amid production cuts will likely push crude prices higher, driving strong investor interest in the energy sector. Thus, energy stocks Marathon Oil (MRO) and Marathon Petroleum (MPC) are well-placed to gain robust momentum in the near term. But which…

StockNews.com

Bumpy ride for billionaire brothers who banked on Asda’s success

Blackburn’s Moshin and Zuber Issa took over the supermarket promising investment to make it the UK’s second-largest chain, but the pandemic and cost of living crisis meant it did not go to to plan

The Guardian - UK

Billionaire Issa brothers sell dozens of stores to bring down EG Group debts

The billionaire Issa brothers have sold scores of convenience stores in the US in the latest step on their bid to bring down debts.

Evening Standard

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Birmingham Post

Profits fall at billionaire Issa brothers' EG Group ahead of £2.3bn Asda deal

The figures come after a deal worth more than £2bn which will see Asda acquire the majority of EG Group's UK and Ireland operations was confirmed at the end of May

StockNews.com

Which Energy Stock Should You Invest In: Marathon Oil (MRO) or Cheniere Energy (LNG)

After a stellar performance in 2022, the energy sector is expected to maintain its growth momentum this year. Strong energy demand worldwide and massive oil production cuts could significantly lift oil and gas prices. Energy producers Marathon Oil (MRO) and Cheniere Energy (LNG) are poised to benefit from the sector’s…

Insider UK

‘No price hikes’ in supermarket as Asda buys petrol station operator for £2.2 billion

Both sides of the deal claim it is not driven by the need to offload a large debt pile

Birmingham Post

What Asda's £2.3bn deal means for prices, jobs and the future of EG Group

BusinessLive has taken a look at the deal in depth and what it could mean for each company and their customers

Get all your
news in one place.

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StockNews.com

Marathon Oil Corporation (MRO) or Shell PLC ADR (SHEL): Which Stock Is a Buy?

Despite lingering macroeconomic headwinds, the energy sector is well-placed for significant growth this year. Sustained energy demand worldwide and constrained supplies are expected to boost oil and gas prices. Energy producers Marathon Oil (MRO) and Shell (SHEL) should benefit from the sector’s bright growth prospects. But which of these stocks…

The Guardian - UK

Asda to buy petrol stations group EG UK as it aims to overtake Sainsbury’s

Concerns raised over £770m of new loans and £450m in new funds from Issa brothers and TDR Capital

Wales Online

Asda announced huge expansion as it buys 350 petrol stations and 1,000 shops

The supermarket has spent £2.7billion on the deal

The Guardian - UK

Asda poised to announce £10bn merger with petrol stations group EG

Deal would help Asda move into convenience retailing and cut costs at merged entity by about £100m, as well as reduce EG’s debts

The Guardian - UK

Asda plans 5% pay cut for about 7,000 workers just outside London

Supermarket is consulting about removing a 60p an hour supplement at 39 stores outside M25 despite the cost of living crisis

Belfast Live

Work well underway to transform former Eglantine Inn

The Clover Group said the bar's focus will be on showing a range of sporting events blended with a great food offering

Birmingham Post

North East business life: charity, community and award events in the region

Companies featuring in this week's round-up include Bellway, Newcastle Building Society and Sage Foundation

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