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English Español EG Group could launch IPO next year

The global gas station business could raise over $12 billion in the stock market.

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Bloomberg is reporting that Blackburn based Euro Garages is considering an IPO with a value of over 10 billion pounds ($12.44 billion).

The report suggest the flotation could take place next year, possibly on New York's Wall Street Stock Exchange.

Euro Garages has been on a rampant expansion campaign with large acquisitions in Germany, Australia, the U.S. over the last three years. It had a 2018 turnover in excess of £12 billion and employs 25,000 staff.

Euro Garages is also backed by private equity firm TDR Capital, which bought a minority stake for just over £1bn in 2015.

The company merged with European Forecourt Retailer in November 2016 and was renamed EG Group. It operates 4,700 sites across Europe and the United States.

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