Indian origin brothers from Blackburn whose parents came to Britain "with nothing" stand to gain a £5 billion fortune by floating their petrol station empire. A potential stock market float is one of a number of options being explored, those close to the company said. It could see it valued at £10 bn - and between them the brothers own half the business, putting them in line to control a £5 bn stake. It would lead the duo bolting towards the peak of Britain's rich list, ahead of the likes of Sir Richard Branson and the blue blooded Schroder family of financiers.
Armed with TDR’s support it has been on a period of ultra-rapid expansion, tripling site numbers last year and adding an extra 1,000 locations so far in 2019. EG is reportedly in early discussions with banks, though none have been formally appointed.
Mohsin and Zuber Issa, 48 and 47, were born in a terraced house in Lancashire after their father, a Gujarati immigrant, moved to Britain to work in the textile industry. They opened their first forecourt in Bury in 2001 and have since transformed their company EG Group into a global behemoth with 4,700 sites in the US and Europe. The Issas - who already boast a combined net worth of £1.2 bn - own EG alongside private equity giant TDR Capital. EG Group is the largest independent petrol station operator and employs around 25,000 people and earns annual revenues of more than $20 bn (£15.8bn).
A rise in the brothers’ net worth would help others, too. The brothers donate 2.5 pc of their wealth to charity. An increase of £3.8 bn means an additional £95m would be donated to good causes. The Issa Foundation supports local hospitals and provides free breakfasts for school children in and around Blackburn. Earlier this year, Zuber said: “Education is the only way to get people out of poverty. “Our parents came to the UK in the 1960s with nothing. This is our way of saying ‘thank you’ because the UK has provided us with a fantastic opportunity to build our business.”
