EG Group has agreed to sell its operating business in France to EG On The Move, marking the latest step in the retailer’s planned exit from the market.

Financial terms of the transaction were not disclosed.

The group runs convenience retail, foodservice and fuel sites internationally and is jointly owned by Zuber Issa, Mohsin Issa and private equity company TDR Capital.

Founded in 2023 and owned by Zuber Issa, EG On The Move operates petrol stations, convenience stores and fast-food offerings across the UK.

Under the arrangement, EG On The Move had entered a put option to acquire around 260 sites in France.

The proposed deal sits within a wider programme of transactions to divest EG Group’s French operations.

That process began with the sale of the Vitry fuel depot, which was completed in December 2025.

Separately, EG Group has also signed agreements to sell several sites, mainly in the Paris metropolitan area, to property developers for non-fuel uses.

These disposals are expected to be completed over the next 12 months.

According to EG Group, the sale to EG On The Move will be presented to the relevant employee representative bodies as required under French law and remains subject to standard regulatory approvals.

Completion is anticipated in the second quarter of 2026.

EG Group said the proceeds will be used to reduce debt as it reshapes its portfolio and concentrates on markets it considers central to its strategy.

The divestment follows other steps by EG Group to refocus the business on the US.

The Financial Times reported the company has also been paying down debt ahead of a planned IPO that it is aiming to pursue in the first half of this year.

EG Group has previously exited Australia and Italy, generating £530m ($717.6m) and €425m respectively.

In a LinkedIn post, EG On The Move described the decision as reflecting its “continued commitment to securing forecourt assets and long-term strategic investment interest in the mobility sector”.

Zuber Issa added: “The agreement represents a proactive and disciplined step in EG On The Move to be able to consider securing additional network assets and strengthening our market position.”

EG On The Move added that acquiring EG Group’s French site network would broaden the company’s portfolio and enable further investment in its established retail channels.