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Isle of Man companies linked in Asda owners' private jets deal

The brothers finances have been under scrutiny in recent times

It's claimed the billionaire Issa brothers who own the Asda supermarket chain borrowed millions of pounds from their petrol forecourt company, the EG Group, in 2022 to repay debt taken on to buy two private jets, owned by Issa companies in the Isle of Man.

The Guardian newspaper says corporate filings seen by the Financial Times show more than £4 million was given to one Manx company which owns a Bombardier Global 6000 plane.

A further £1.6 million went to another, which has a smaller Bombardier aircraft. 

It's claimed that in 2018 the two private jet companies were given 39 million euros by EG Group in unsecured, interest free loans to buy the jets.

It's alleged the private jet companies also borrowed from the Bank of America, which has security over the two planes.

The Issa brothers financial affairs have been under scrutiny in recent months after their debt laden takeover of Asda in 2020.

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