Blackburn-based petrol station and convenience store giant EG Group is planning an initial public offering next year that could value the company at about $12.44 billion, Bloomberg has reported, citing people familiar with the matter.
Privately-held EG Group was founded with a single filling station in Bury as Euro Garages in 2001 by brothers Zuber and Mohsin Issa.
The group now operates 4,700 sites across Europe and the United States.
EG Group, whose stakeholders include private equity firm TDR Capital, is in early talks with banks, Bloomberg reported, adding that no formal mandates have been awarded.
The report said a share sale may take place in the second half of 2020, with EG Group weighing a listing in the United States.
TDR Capital had bought a minority stake EG Group in early 2016 for $1.43 billion when it was still known as Euro Garages.
The company merged with European Forecourt Retailer in November 2016 and was renamed EG Group.