The petrol station group founded by billionaire brothers Mohsin and Zuber Issa is reportedly the target of a takeover bid by Couche-Tard, a Canadian retail giant based in Quebec. The proposed offer for the Issas’ Cumberland Farms business, formerly known as EG Group, is estimated to be between $7.5 billion and $8 billion.

This bid represents a significant reduction from the earlier valuation sought by the Issas and their partners. The company, which operates approximately 3,300 sites across Europe and the United States, had been preparing for a U.S. stock market flotation with a targeted valuation of around $9 billion. However, the IPO was postponed amid recent market volatility, leading to renewed discussions about a potential acquisition by a corporate buyer.

Mohsin and Zuber Issa each hold a 25 percent stake in Cumberland Farms, while the remaining 50 percent is owned by private equity firm TDR Capital. The current offer marks a notable drop from the $16 billion valuation reported when Couche-Tard first initiated acquisition talks in 2022.

The Issa brothers' business story began in 2001 with the purchase of a single BP petrol station in Greater Manchester, which they expanded into the Euro Garages empire. Although EG Group no longer operates petrol stations or convenience stores in the United Kingdom following the sale of much of its portfolio to supermarket chain Asda, Cumberland Farms remains active internationally.

Couche-Tard operates a significant global footprint, with around 17,300 stores in 27 countries. Both Cumberland Farms and Couche-Tard declined to comment on the reported bid.

This development adds a new chapter to the evolving ownership structure of the Issa brothers’ fuel retail business, reflecting broader shifts in the sector amid market uncertainties.