THE Blackburn brothers behind the EG Group are considering a Stock Exchange flotation of their petrol station and convenience stores business in a move that could net them £5billion.

If the public share sale goes ahead it would make Mohsin Issa, 48, and Zuber Issa, 47, among the 30 richest families in the UK.

Reports from respected financial news service Bloomberg suggest the flotation could take place next year, possibly on New York's Wall Street Stock Exchange.

They value the company – which trades in the UK, continental Europe and the United States – at £10bn making the Issa brothers' 56 per cent stake worth more than £5bn.

Their first venture was buying a petrol forecourt in Bury for £150,000 in 2001 before rapidly expanding across East Lancashire and the UK creating Euro Garages.

The company – headquartered on Blackburn's Beehive Trading Park in Haslingden Road – merged with private equity firm TDR Capital’s European Forecourt Retail Group in 2016 to create the EG Group as it expanded rapidly into Europe and the US.

It had a 2018 turnover in excess of £12bn and employs 25,000 staff.

The brothers' parents arrived in Blackburn from India in the 1960s and they own a £25million mansion in Knightsbridge in Central London and luxury houses in their home town.

Miranda Barker, chief executive of the East Lancashire Chamber of Commerce, said: "It would be a logical next step to float the company.

"When businesses reach this size, it is often how they raise capital. If they want to raise the money to keep up their current pace of expansion it would make sense. I would hope if this happens that the business remains East Lancashire-centric with its heart and soul in Blackburn."

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An EG Group spokesman declined to comment on the reports of a possible flotation.

The company sells fuel under brands including Esso, BP, Shell and Texaco and its sites host food and beverage outlets such as Starbucks, Burger King and Subway.