Billionaire brothers Mohsin and Zuber Issa’s petrol station company EG Group is expected to list on the New York stock market as early as this year.

The initial public offering (IPO) could value the business at around $13bn (£10.7bn) and according to the Financial Times, would allow the brothers’ private equity partner TDR Capital to cash out some of its investment.

Zuber Issa told The Sunday Times that “the road map is starting now” on an IPO, which is expected to take place either this year or next.

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It is understood that the petrol giant would float under the name of Cumberland Farms – an American c-store operator that it purchased six years ago.

The US comes is EG Group’s single largest market, with the group having acquired 800 convenience stores from US retailer Kroger in 2018 for £1.7bn, The Issa’s have also built up EG’s estate in the US to operate across 30 states.

The majority of its British operations were sold to Asda in October 2023 for £2bn, which saw the British supermarket chain obtaining 350 petrol filling station sites and over 1,000 food-to-go locations.

In May, Zuber, who sold his 22.5% stake in Asda to private equity firm TDR Capital earlier this year, bought out the remaining UK sites, launching a rival company called EG On The Move. He retains his shareholding in EG Group.