Owners of UK supermarket Asda and EG Group considering merger
The combination would create a retail giant worth between 11 billion pounds ($13.6 billion) and 13 billion pounds that would have more than 581 supermarkets, 700 petrol forecourts and 100 convenience stores in Great Britain, said the newspaper.
Brothers Zuber and Mohsin Issa and London-based private equity group TDR Capital have owned EG Group together since 2016. They later bought Asda.
Talks about the merger of the two businesses come before a refinancing of EG Group, which has 7 billion pounds of debt due in 2025, according to the report.
Asda declined to comment on rumors or speculation. TDR Capital did not immediately respond to a request for comment.
The Issa brothers could not immediately be reached for comment.
($1 = 0.8069 pounds)
(Reporting by Sarah Young; Editing by Mike Harrison)