Global real estate advisor CBRE has advised Park Garage Group Plc (PGG) on the acquisition of 27 forecourt sites from EG Group.
This follows the Competition and Markets Authority’s (“CMA”) announcement in June 2021 that it had agreed formal undertakings offered by Mohsin Issa, Zuber Issa and TDR Capital LLP to divest some of EG Group’s PFS sites to address the competition concerns relating to their separate acquisition of Asda Group Limited (“Asda”).
Simon Galway, Head of OPRE Roadside & Automotive, CBRE commented: “It is a pleasure to have advised our longstanding client Park Garage Group Plc on this significant acquisition which will enable them to fulfil their growth plans and enjoy continued success.”
Sunil Tandon, Managing Director of Park Garage Group, respectively, said: “We are delighted to have reached an agreement to acquire these sites, particularly due to their quality, which has been cultivated by EG Group. CBRE’s depth of knowledge in this sector was a huge support to PGG in the deal.”