Who are Indian-origin billionaire brothers buying UK’s Asda in $8.8 bn deal?


Team Udayavani, Oct 3, 2020, 3:04 PM IST

Indian-origin billionaire brothers, Mohsin and Zuber Issa, along with British firm TDR Capital, are buying UK’s supermarket chain Asda from Walmart in an $8.8 billion deal.

Announcing the deal, Walmart said Asda would keep its headquarters in Leeds in northern England, with chief executive Roger Burnley continuing to be in charge.

According to BBC,  Industry insiders describe the brothers as softly spoken and modest. At one industry awards ceremony several years ago, the brothers were present but were said to be too shy to claim their award on stage.

Their parents arrived in the UK from Gujarat in the 1970s to work in the textile industry. The brothers own EG Group, which has more than 5,000 petrol stations across the UK and Europe

Based in Blackburn, Zuber Issa, 48, and Mohsin Issa, 49, began small, working on a petrol station in Greater Manchester in 2001, and went on to build a chain of thousands of petrol stations in Europe and the United States as part of their company, EG Group.

 

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