EG Group to buy Woolworths’ Petrol Business in Australia for A$1.725 bn

EG Group, a global leader in fuel and convenience retailing, operating circa 4,700 sites across Europe and North America announced binding agreement with Woolworths Group Ltd (ASX: WOW) to buy its 540 site network for A$1.725 billion. Mohsin Issa, EG Group Founder and co-CEO expressed: “We are the leading independent petrol forecourt retailer in Europe and are having great success in the US. The Woolworths’ assets present a fantastic opportunity to further grow our international footprint and deliver our best-in-class retail experience in a new geography."