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.

 

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Actress Kasthuri released from jail, says ‘I thank those who made me raging storm’

Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial

100 engineering colleges in Karnataka to be ‘adopted’ by corporates by next year: IT Minister Kharge

Siddaramaiah defends BPL ration card cancellation, says only ineligible beneficiaries affected

China announces new policy measures to protect its exports from Trump’s new tariff threat

Renovated Medical Oncology OPD and Chemotherapy Day Care Centre inaugurated at Kasturba Hospital, Manipal

Karnataka Health Minister justifies revision of user fees in state-run hospitals

Related Articles More

Key to past: Indore man collects 570 typewriters from across the world

Kambala: Tradition and modernity in coastal Karnataka

Dairy farmers in K’taka border areas selling milk to Kerala for higher price!

Kadaba: ‘Notion that only English-medium education leads to success is misleading’

Udupi: ‘Team Taulava’ takes charge to preserve endangered ancient monuments

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

Siddaramaiah says confident of winning all three bypolls in Karnataka

Hop on! IT Minister Priyank Kharge checks out Uber Shuttle at Bengaluru Tech Summit

Actress Kasthuri released from jail, says ‘I thank those who made me raging storm’

Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial

AIMPLB to hold its annual general sessions in Bengaluru from November 23

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.