The billionaire Issa brothers are selling off a swathe of convenience stores in the US in an effort to pay down billions of pounds of debt.
Mohsin and Zuber Issa, the owners of Asda and petrol station giant EG Group, have offloaded 63 EG Group-owned shops in Kentucky and Tennessee to US chain Casey’s General Stores for an undisclosed sum.
It is the latest sale of non-core assets as the brothers move to reduce debts racked up from the rapid expansion of their retail empire.
EG Group’s debts stood at $9.67bn (£7.6bn) at the end of 2022, according to company accounts.
EG Group said in June that it expects its net debt to fall to $5.4bn once its Asda and other transactions complete later this year.
