Chief strategy and business officer, general counsel and company secretary | EG Group
Imraan Patel
Chief strategy and business officer, general counsel and company secretary | EG Group
What are the most significant cases or transactions that your legal team has recently been involved in?
I have been focussing on two key strategic objectives. Firstly, deleveraging the EG Group, having taken advantage of access to capital markets in recent years to drive huge growth. Notable transactions I have led in the past year include the agreed sale of the majority EG’s UK and Ireland business to Asda for an enterprise value of £2.27bn, and property-related transactions in the US, which delivered net proceeds of $1.4bn.
Secondly, accelerating our energy transition, with a focus on EV charging and hydrogen refuelling.
What do you see as an opportunity or risk over the next six months?
The world needs to limit global warming and EG Group have committed to be net zero by 2050, as part of the energy transition to a lower-carbon future. The team at EG Group is ready to navigate these challenges, grasping the new opportunities that the coming months may bring, while continuing to adapt to our customers�� needs.
Technology risk remains a constant battle, and consequently, I oversee EG Group’s digital strategy, as well as the technology, infrastructure, and controls to make sure they remain fit for purpose.
What are some of the main trends impacting the industry sector you work in in the United Kingdom?
Climate change and the transition to a lower-carbon economy will significantly impact the future of fuel supply, distribution, and retail. To better understand the potential risks and opportunities for our fuel retail business, my team commissioned research into different climate change scenarios and their impact on fuel retail.
Non-fuel offerings are a cornerstone of the EG Group’s long-term diversification strategy and a significant, and increasing, proportion of the group’s gross profit is non-fuel. Our focus is on developing multi-use retail sites that are well placed to adapt and evolve beyond a traditional fuel offering to cater for changing customer demands for convenience retail as well as new motor vehicle fuel sources.
What measures has your company taken to embed sustainability practices into its core business operations, and how does the role of the general counsel contribute to driving and ensuring sustainable practices within the company?
General counsel are well positioned to drive commitments around minimising our environmental impact. My team led a materiality assessment to understand critical ESG matters and to help formulate the business’ ESG strategy. This is a determined effort to reduce waste to landfill; sourcing renewable energy where possible; drive an inclusive culture where all those that work for the business can develop and share in successes and create “a brighter tomorrow” across communities by facilitating grants to organisations involved in education, children and young people, and health and wellbeing.