October 11, 2019 / 3:46 AM / a month ago

EG Group weighs IPO that could value co at over $12.44 billion: Bloomberg

(Reuters) - UK petrol station operator EG Group is planning an initial public offering next year that could value the company at over 10 billion pounds ($12.44 billion), Bloomberg reported bloom.bg/35ntPBv on Friday, citing people familiar with the matter.

The company, whose stakeholders include private equity firm TDR Capital, is in early talks with banks, Bloomberg reported, adding that no formal mandates have been awarded.

A share sale may take place in the second half of 2020, with the company weighing a listing in the United States, according to the report.

TDR Capital had bought a minority stake in the company in early 2016 for 1.3 billion euros ($1.43 billion), when it was known as Euro Garages. The company merged with European Forecourt Retailer in November 2016 and was renamed EG Group. It operates 4,700 sites across Europe and the United States.

EG Group did not respond to a Reuters request for comment outside regular working hours.

Reporting by Roshan Abraham in Bengaluru; Editing by Aditya Soni

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