Bloomberg News reported on June 23, citing people familiar with the matter, that EG Group has made a confidential submission for a U.S. initial public offering that could raise about $1 billion and seek a valuation of about $9 billion.
The report said the submission is not yet public on EDGAR and that timing is being discussed as soon as July, although the size and schedule have not been finalized.
EG Group, which is backed by TDR Capital, operates fuel retail and convenience store businesses and has been reshaping its portfolio through disposals. The company said in August 2025 that it agreed to sell its Italian business for an enterprise value of 425 million euros, with proceeds intended to reduce debt, and in February 2026 it announced a divestment of its French operating business as part of an exit from that market.
EG also completed a roughly $1.5 billion U.S. sale-leaseback transaction in 2023 covering up to 415 convenience store properties, with net proceeds intended for debt repayment. In its 2024 annual report, EG reported net debt of $5.318 billion and pro forma adjusted EBITDA before IFRS 16 of $1.079 billion, equivalent to leverage of 4.9 times, while its February 2026 trading update showed full-year 2025 underlying EBITDA of $942 million.