LONDON, (Reuters) – Asda, the British supermarket chain and EG Group, have ended a deal which would have allowed EG to buy Asda’s petrol forecourts at 750 million Pounds ($1.03 Billion), according to the companies.

Zuber, Mohsin Issa, and the private equity group TDR Capital own Asda as well as EG.

In February, the initial deal was struck. However, TDR and the Issa Brothers were still subject to regulatory restrictions that were only lifted in June.

Only then would Asda’s and EG Groups’ teams be able to start sharing commercial information relating EG’s purchase of petrol forecourts.

These changes led to several modifications in the financial assessment of the transaction.

“Consequently, EG, Asda decided that the transaction would not be continued and was terminated on 18 October,” said both companies.

Asda stated that it was confident in its ability to continue to reap the synergy benefits of its strategic alliance and EG. This includes setting up foodservice options at Asda shops as well expanding Asda’s convenience store offerings.

Asda revealed plans last month to set up 28 new convenience stores called “Asda On-the-Move” at EG forecourts. The goal is 200 locations by 2020.

EG announced that the company will begin the process to redeem 675 million pounds worth of senior secured note due 2026 it issued in March.

($1 = 0.7281 pounds)