EG Group to kick off formal plans for $9bn US float - report

16th Jan 2026 10:39

(Sharecast News) - Petrol forecourt company EG Group will reportedly kick off formal plans for a $9bn (£6.7bn) US stock market listing next week.

According to Sky News, EG Group - owned by billionaire brothers Mohsin and Zuber Issa - will begin choosing advisers in London ahead of a flotation expected to take place this year. Banking sources told Sky that Barclays, Bank of America, Goldman Sachs, JP Morgan and Morgan Stanley were all likely to take part in next week's selection process.

The company, which may choose to list in New York under the name Cumberland Farms, is currently chaired by Lord Rose, the former Marks & Spencer and Asda chairman.

EG Group is roughly 50%-owned by private equity firm TDR Capital, which also owns a controlling stake in Asda.

Under TDR's ownership, EG Group has recruited an experienced executive leadership team led by Russell Colaco. Colaco is based in the US, which is now the company's biggest single market.

Its global headquarters is shifting to Charlotte, North Carolina, and while the company was founded in Britain, bankers believe a US listing is more logical than a London flotation, Sky said.

In total, EG Group employs about 33,000 people and operates roughly 4,300 sites. It serves 1 billion customers every year.

One banker told Sky said that after taking the disposals into account, it was likely to be valued at between $8bn and $9bn.