Billionaire Issa brothers planning £8billion takeover of fast food chain Subway

Asda homeowners, the Issa Brothers, are reportedly eyeing up a possible takeover of main quick meals chain Subway.

The brothers, Mohsin, 51, and Zuber Issa, 50, are understood to be plotting to amass the sandwich chain – which has 44,000 eating places globally – for £8billion.

One supply advised The Solar that the brothers’ firm, EG Group, imagine that Subway can be an “preferrred match” for his or her empire.

A supply mentioned: “EG Group have felt for some time that Subway handled them the identical means as different franchise companions and their huge development hadn’t been appreciated.

“So what higher solution to present who’s boss than proudly owning them.”

One other supply advised the paper: “It will make good sense.”

The Blackburn-based Issa brothers have already got just a few Subway shops in a few of its greater than 6,300 petrol stations throughout the globe.

This contains 340 stations within the UK.

Subway introduced earlier this yr that it was wanting into the potential for promoting the enterprise.

On the time, the corporate didn’t point out how lengthy the gross sales course of might take or whether or not there have been any events.

It additionally mentioned it couldn’t affirm if a sale would truly happen.

The family-owned chain additionally mentioned that it will not be making any additional firms concerning the potential sale going ahead.

In line with the Wall Avenue Journal, which first reported the story, a sale of the Subway might worth it at greater than $10billion (£8.2bn), which is an analogous determine to the Issa brother’s reported bid.

The Issa brothers have constructed fairly a reputation for themselves during the last 20 years after founding the corporate EG Group, initially referred to as Euro Garages, in 2001.

The brothers expanded in a short time after opening their first petrol station in Bury, Higher Manchester after teaming up with the non-public fairness agency TDR capital.

The brothers have constructed a reputation for themselves within the retail and hospitality world having just lately bought well-known chains similar to Asda and the quick meals chain Leon.

Lately the group has tried to grab the espresso chain Caffe Nero and has reportedly explored a bid for Boots.

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