Every day, our committed workforce tirelessly deliver our products and services to millions of customers alongside supporting the local communities in which we operate. Track all the changes in the company ISSA BROTHERS (UK) LIMITED for free. Brothers Mohsin and Zuber Issa founded EG Group, which owns 6,000 petrol stations and various fast food brands in Europe and the US. The transaction received approval from the FCA on 8 th February 2021 and all deal conditions have been met in full. But the brothers, now . In a constantly changing retailing environment, our new ownership will further enhance our resilience, whilst creating significant, additional opportunities to drive growth. [25] Criticisms include a lack of transparency compared to other companies of the same size. This important combination will continue to keep customers and colleagues at Asdas heart, which is important to us all., Roger Burnley, Chief Executive Officer of Asda, said: This new ownership opens an exciting new chapter in Asdas long heritage of delivering great value for UK shoppers. These documents may The transaction received approval from the FCA on 8 th February 2021 and all deal conditions have been met in full. He said that the city decided at that time to keep negotiating with Issa Brothers, rather than put it back out to bid. Stay informed and spot emerging risks and opportunities with independent global reporting, expert Check if your Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. The Issa brothers, together with TDR Capital, bring significant expertise in convenience retail and brand partnerships to help Asda serve a wider base of UK shoppers Existing Asda management team to continue to drive the current growth strategy, with ongoing access to Walmart's global sourcing scale and innovation You have at your disposal scanned copies of official documents submitted by the company at Companies House. It is not intended to be nor does it constitute legal advice. Mr Riley, the council's lead on regeneration, said it was "going to be no ordinary mosque". The Issa brothers and TDR Capital have acquired a majority ownership stake in Asda, while Walmart will retain an equity investment in the business, with an ongoing commercial relationship and a seat on the Board. Councillor Phil Riley said it would be an "impressive facility" which could "only enhance the spirit of the town". Asda's billionaire Issa brothers: Inside all the property, businesses and land that they own They have stakes in Asda, Leon and Cooplands to name a few News By Seamus McDonnell Thomas George News reporter Alex Grove 16:35, 10 OCT 2021 Brothers Zuber (left) and Mohsin (right) Issa have built quite the empire The transaction received approval from the FCA on 8th February 2021 and all deal conditions have been met in full. What's he waiting for? Each week, over 265 million customers and members visit approximately 11,500 stores under 56 banners in 27 countries and eCommerce websites. About WalmartWalmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Councilman Hassan Ahmad was not at the meeting. commentary and analysis you can trust. At one point, Wencel asked for an audience member to be removed for heckling him while he was speaking. Keep abreast of significant corporate, financial and political developments around the world. We believe that our experience with EG Group, including our expertise around convenience and brand partnerships and our successful partnership with TDR Capital, can help to accelerate and execute that growth strategy. At EG Group, we pride ourselves on being recognised for our investment model, trading performance and more importantly, providing a best-in-class customer experience in Grocery & Merchandise, Foodservice and Fuel. Founded in 2001 by the Issa family with the acquisition of a single site in the UK, today the company is at . Asda: a history. The council and residents have been urging the city administration to find a new contractor for months, but as the course sits vacant, the conditions have worsened, causing the contract to be modified several times before it was even brought to the council. Zuber and Mohsin Issa, 48 and 49, started their business with a single petrol | 11 comments on LinkedIn Video, Record numbers of guide dog volunteers after BBC story, Harry and Meghan told to 'vacate' Frogmore Cottage, Rare Jurassic-era bug found at Arkansas Walmart, Ed Sheeran says wife developed tumour in pregnancy, Baby's body found as police continue to question couple, Man survives 31 days in jungle by eating worms, China and Belarus call for peace in Ukraine, Prince Andrew offered Frogmore Cottage - reports. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Petrol station tycoons Issa brothers on verge of 6.8bn Asda buyout Billionaires brothers offered to sell 27 petrol stations to address competition concerns Zuber and Mohsin Issa are the. [26], Commander of the Order of the British Empire, "Asda bought by billionaire brothers in 6.8bn deal", "Zuber and Mohsin Issa: the brothers pumping debt and doubts", "Petrol stations owned by Muslim family remove alcohol from shelves", "UK billionaire brothers' mega mosque plan gets council's nod", "High-octane rise of brothers' firm shows family value", "New Asda owners Mohsin and Zuber Issa the Blackburn billionaire brothers", "Band of brothers: Why sibling-run firms work", "The billionaire brothers who built an empire from a Bury petrol station and have just bought ASDA for 6.8bn", "Acquisitions drive growth at Euro Garages", "Blackburn-based Euro Garages to expand into US with $2bn acquisition", "Leon: Billionaire Issa brothers buy fast food chain", "Issa brothers miss out on TopShop and Miss Selfridge deal - ALL stores to close", "Billionaires Face Off in Final Battle for UK High Street Staple", "Morrisons beats Issa brothers in battle to rescue McColl's", "Bombshell for billionaire Issa brothers' plans to buy Caff Nero", "Petrol station brothers filled with drive", "Brothers from 'wrong side of Pennines' who took over Asda", "Asda owners Issa brothers 'paid no tax for two years', "Asda's parent company will be based in Jersey tax haven", https://en.wikipedia.org/w/index.php?title=Mohsin_and_Zuber_Issa&oldid=1136050555, This page was last edited on 28 January 2023, at 13:26. Asda has today opened its landmark 100th Asda On the Move store in partnership with EG Group and confirmed plans to open a further 100 sites across the UK this year, as part of its strategy to create more convenient ways for customers to shop.The Asda On the Move concept was launched in October 2020, to increase the number of customers who can, Current hourly rateHourly rate from 2nd AprilHourly rate from 2nd JulyNational rate10.1011.0011.11Stores inside the M2511.2712.1712.28Asda has today announced a 10% pay increase for hourly-paid store colleagues, with rates rising to 11.00 per hour from April and 11.11 per hour from July.The supermarket is investing a record 141m this year, Asda Stores LTD and Publicis Sapient, the digital business transformation company, have today announced a partnership to transform Asdas online grocery business, enabling the retailer on its journey of independence from former owner Walmart Inc, and helping Asda build its digital future.The hugely ambitious programme will see Publicis Sapient, Asda opens landmark 100th Asda On the Move convenience store, Asda to increase retail colleague pay rates by 10%, Asda partners with Publicis Sapient to deliver full transformation of its online grocery business. "We are proud to be a business founded in Britain that invests in job creation worldwide, while focusing heavily on the training and development of colleagues. contain Accounts, Annual Returns, Director appointments, Director resignations, administration and liquidation events, About the Issa BrothersFor more information please visit: www.ibtdr.com. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Asdas customer-centric philosophy, focus on operational excellence and commitment to the communities in which it operates are the same values that we have built EG Group on. 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You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Zuber Issa and his brother Mohsin Issa have come under criticism for their tax affairs,[23][24] along with having "appalling" safety standards at a company they co-owned. About TDR CapitalTDR Capital is a leading private equity firm which invests in UK and European businesses, and partners with them to develop and grow their operations. That doesnt mean this contract is the best for the city.. Councilman Tom Wencel then asked what exactly they voted on, thinking they had been voting on an amendment, not the contract itself. Mohsin Issa CBE and Zuber Issa CBE are British-Indian billionaire brothers and businessmen, best known for founding Euro Garages (later renamed EG Group) in 2001, a Blackburn-based chain of petrol filling stations and convenience stores that operate in Europe, the United States and Australia. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart. As well as accelerating Asdas existing strategy, the Issa brothers will bring significant additional expertise, particularly in convenience retail and brand partnerships, drawing on their experience of building a global convenience retailer with more than 6,000 sites. Or by navigating to the user icon in the top right. Billionaire brothers Mohsin and Zuber Issa's EG Group is hiring almost 23,000 people in the UK by expanding more people at Asda, Cooplands and Leon and tie-ups with KFC and Starbucks. Mohsin Issa CBE and Zuber Issa CBE are British-Indian billionaire brothers and businessmen, best known for founding Euro Garages (later renamed EG Group) in 2001, a Blackburn -based chain of petrol filling stations and convenience stores that operate in Europe, the United States and Australia. [17] In 2022, the brothers attempted to acquire pharmacy chain Boots, however its American owners Walgreens decided to retain it and took it off the market. [16], In 2021, the brothers lost out to ASOS in hoping to acquire the fashion retailer Topshop. TDR Capital now owns half of the group, with Zuber Issa . Take advantage of our watch this company feature free of charge and have notifications sent directly to your inbox. The parties continue to work constructively with the Competition and Markets Authority ("CMA") on regulatory approval, which is currently expected in Q2 2021, and remain confident of a positive outcome. Now EG Group has unveiled plans to create 32,000 more jobs across the world - with 22,700 in the UK. The city will buy equipment to maintain the golf course, which could cost between $790,000 to $1.7 million, and another up to $800,000 to get the property ready for a certificate of occupancy. Boots is owned by US-based company Walgreens Boots Alliance, which unveiled a 'strategic review' of the pharmacy chain in January. A copy of the transaction press release issued on 2nd October 2020 can be found here for reference. [18] Later in the year, the brothers attempted to acquire McColl's, but lost out to Morrisons. In February 2018, it was announced that Euro Garages would acquire 762 convenience stores in the United States from Kroger. registered office changes, strike off actions, charges and more. This weighs heavily on all of our hearts, Councilman Ray Muscat said. To monitor these changes, all you need to do is click on watch this company. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. I want you to understand, Mr. Issa is the best man for this job, he said. That contract has been worked out over the past few months. KKR owned Boots in the past, before selling it to Walgreens. 2023 BBC. After months of debate, and voting down the final contract at the end of July, a slightly revised contract between the City of Dearborn Heights, Issa Brothers, LLC and Revive Golf Management, LLC was approved Aug. 4, which allows Warren Valley Golf Course to reopen with new operators. Video, At the crash site of 'no hope' - BBC reporter in Greece, Record numbers of guide dog volunteers after BBC story. At a time of evolution in the UK food retail sector, the new owners will continue to build a strong and successful business, benefiting from fresh capital and expertise, as well as valuable links with the worlds largest retailer. LEEDS, UK, and BENTONVILLE, Ark., October 2, 2020 Walmart Inc. (Walmart), Asda Group Limited (Asda), the Issa brothers and TDR Capital announced that the Issa brothers, founders and co-CEOs of EG Group, a global convenience and forecourts retailer, headquartered in Blackburn, UK, and investment funds managed by TDR Capital LLP, a leading UK-based private equity firm, have together agreed to acquire Asda, Walmarts wholly-owned UK business, for an enterprise value of 6.8 billion, on a debt-free and cash-free basis. Compare Standard and Premium Digital here. In a joint statement, Mohsin and Zuber Issa said: "As EG continues to go from strength to strength, we will be creating a large number of new jobs over the coming years, particularly in our successful foodservice business which remains a significant growth opportunity globally. . DeSantis won't say he's running. "It's going to be an impressive community facility and can only enhance the spirit of the town itself.". The company will also hire 9,700 new staff in Ireland, France, Italy, Germany, Belgium, the Netherlands, Luxembourg, Australia and the US. Mohsin and Zuber Issa were born in July 1971 and June 1972 respectively in Blackburn, Lancashire in North West England into an Indian Gujarati Muslim family[4][5] to parents Vali and Zubeda who came to the United Kingdom from Bharuch, Gujarat, India in the 1960s to work in the textile industry and then ran a petrol pump. In January, Hyndburn Borough Council was called in by neighbours after they noticed that the . If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for S$95 per month. That statement caused an outpouring of comments from the council and the audience. "The towers are considered to frame the surrounding area with the existing church towers associated with St Silas Church and Sacred Heart Church," he added. Watchdog service can be cancelled any time. or Mohsin and Zuber. Dave Herndon is a multimedia journalist with MediaNews Group, covering the Dearborn area for The Press and Guide. About WalmartWalmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. The parties continue to work constructively with the Competition and Markets Authority ("CMA") on regulatory approval, which is currently expected in Q2 2021, and remain confident of a positive outcome. Find out more information about ISSA BROTHERS (UK) LIMITED. I want to thank every single one of our people for the incredible work they do serving our communities, and together our focus will remain on building a better Asda for the benefit of all.. [7] Their childhood was a modest one, growing up in a terraced house in Blackburn. [15], Through their Monte Group company the Issa brothers are investors in the sports brand Castore. [19] Attempts to acquire Caff Nero have also fallen through.[20]. Contact us Link opens in new tab . Zuber is a natural leader and versatile strategist who has spearheaded the growth of EG Group, a leading global petrol forecourt retail convenience operator, including actively leading on introducing its new-to-industry sites, site investment and development, and Group operations. It has grown fast, making more than 6 billion euros of acquisitions in 2018 and 2019, adding sites in Europe, the U.S. and Australia . The Issa brothers and TDR Capital have acquired a majority ownership stake in Asda, while Walmart will retain an equity investment in the business, with an ongoing commercial relationship and a seat on the Board. The previous contractor canceled the deal between the city and them earlier this year, and the course has remained inoperable since then. He said the city isnt under contract to plow or patch streets. Issa Brothers will have the right of first refusal if the city ever decides to sell the course in whole or in part. In his spare time, he has authored comic books and works on various anthology books both fiction and non-fiction. They each answered similarly that it reopens the golf course for the residents and potentially starts earning revenue for the city. This community has changed, Baydoun said. [6] They were educated at Witton Park High School. They built their empire from a Bury petrol station and in just over two decades Mohsin and Zuber Issa have gone from the humble beginnings of a terraced house in Lancashire to self-made. EG Group is one of the world's leading independent convenience retailers with an extensive network of sites across international markets in the United Kingdom & Ireland, Continental Europe, Australia and the United States of America. The billionaire brothers who co-own the Asda supermarket chain borrowed tens of millions of euros interest-free from their petrol station empire EG Group to buy two private jets. Issa brothers from Blackburn. Asdas performance through the COVID-19 pandemic has demonstrated the fundamental strength and resilience of the business, and we are excited to support Roger and his team as they continue to reposition the business to drive long-term growth. A revote passed 5-1 with Wencel being the dissenter. To deliver a modern, compelling retail experience that satisfies multiple consumer missions in one convenient destination and exceeds customer expectations. ISSA Contact Info Business Hours Monday - Friday 6:30 AM - 5:00 PM PST Telephone 1-800-545-4772 +1-855-478-0340 (International Callers) Fax +1-805-745-8119 Address ISSA 11201 N. Tatum Blvd Ste 300 PMB 28058 Phoenix AZ 85028-6039 USA Ready to jump-start your career? Through these and other initiatives, the Asda leadership team and the companys new ownership will be focused on building a differentiated operating model that will drive competitive outperformance and long-term growth. He asked each of the other five council members in attendance what the contract does for the city. Plans by the billionaire Issa brothers to build a "landmark" mosque in Blackburn have been approved. Company status Dissolved . Asda has been a powerhouse of innovation for the rest of the Walmart world, and we look forward to continuing to learn from them in the future. The lease, which is for 10 years, with two five-year extensions allowed to be optioned by the tenant, calls for $60,000 a year in rent to be paid in $5,000 monthly installments. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. We support credit card, debit card and PayPal payments. Wencel said the contract had too many holes in it to be approved. The Issa brothers and TDR Capital have acquired a majority ownership stake in Asda, while Walmart will retain an equity investment in the business, with an ongoing commercial relationship and a seat on the Board. If you dont vote no on this contract, youre not taking the citys best interest into consideration, he said. [9], Before founding Euro Garages, the Issa brothers took out a lease on a garage, and saved up the money to buy their first petrol station. Get your free evaluation kit today! During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. The Issa brothers are both British-Indians, British-Gujaratis and British-Muslims. VideoRecord numbers of guide dog volunteers after BBC story. This means that we may include adverts from us and third parties based on our knowledge of you. Under the new ownership, Asda will continue to work closely with suppliers to provide best value ranges for customers in the categories that matter most to them. Most of the jobs will come from rolling out its Cooplands bakeries and Leon restaurants across its forecourts. They also own Asda, along with investment firm TDR Capital.. The BBC is not responsible for the content of external sites. This is public information provided by the official company register. About Asda, a wholly owned subsidiary of Walmart Asda is a UK retailer founded in 1949 serving around 19 million customers a week and currently employs more than 146,000 people across the UK. Information about the Private Limited Company ISSA BROTHERS (UK) LIMITED has been prepared for information purposes only. One resident, who claimed to have golfed at Warren Valley more than 100 times in the last four years, said he hopes the city goes forward to get the course back up and going. Baydoun said everything the Issa Brothers invest in has thrived. The golf course, 26116 W. Warren St.,has been closed all season due to the condition that it was left in after flooding last year. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. VideoAt the crash site of 'no hope' - BBC reporter in Greece, Dozens of girls treated after new Iran poisonings, Blackpink lead top stars back on the road in Asia, Exploring the rigging claims in Nigeria's elections, 'Wales is in England' gaffe sparks TikToker's trip, Ukraine war casts shadow over India's G20 ambitions, Record numbers of guide dog volunteers after BBC story. "With its Islamic architecture, it obviously reflects the changing face of modern Blackburn and this will show Blackburn in the new light of a place where there is diversity, but also where communities mix. About Asda, a wholly owned subsidiary of Walmart Asda is a UK retailer founded in 1949 serving around 19 million customers a week and currently employs more than 146,000 people across the UK. Our transformational convenience retail business model has been built upon excellent relationships with an extensive portfolio of leading retail brands, and through strategic network acquisitions supported by a programme of new-to-industry developments. Mr Prescott also said noise would be limited with no amplified calls to prayer and nearby trees on Preston New Road road would be protected. [12][13], Mohsin Issa runs the business day to day while brother Zuber Issa is responsible for strategy and acquisitions. [11], Euro Garages' expanded as oil majors (such as Esso) offloaded their forecourt sites, with Euro Garages using these acquisitions to expand retail and food convenience offerings. Bookmark. Plans by the billionaire Issa brothers to build a "landmark" mosque in Blackburn have been approved. Im delighted that Walmart will retain a significant financial stake, a board seat, and will continue as a strategic partner. TDR takes a long-term approach to its portfolio of businesses, underpinned by ambitious growth plans, strategic focus and targeted investment. In addition to grocery and general merchandise, Asda also operates George, a leading UK clothing retailer with both an in-store and online offering. about the new company documents, bankruptcy or liquidation of the Company. Whenever a new document appears on this website, or if their particulars change, you will be immediately Revive will work to repair the course in preparation for that date. According to their website , EG Group has invested 3.2m in the installation of LED lighting on sites throughout the UK. Why not follow BBC North West on Facebook, Twitter and Instagram? The contract has been being negotiated since March when the Issa Brothers were picked as the contractor. [14], In October 2020, Walmart announced an agreement to sell a majority stake in Asda to a consortium of the Issa brothers and private equity firm TDR Capital. Mohsin and Zuber Issa said: We are very proud to be investing in Asda, an iconic British business that we have admired for many years. Check the company's details for free and view the Companies House information, company documents and list of directors. The Issa brothers also want to create jobs by opening more big-name firms to its petrol stations and Asda carparks - like Starbucks and KFC . The Issa brothers and TDR Capital have acquired a majority ownership stake in Asda, while Walmart will retain an equity investment in the business, with an ongoing commercial relationship and a seat on the Board. For more information please visit: www.tdrcapital.com, Issa Brothers and TDR Capital Complete the Acquisition of Asda from Walmart, Walmart California Consumer Privacy Act Notice. For cost savings, you can change your plan at any time online in the Settings & Account section. The company has a significant property portfolio, of which 75 percent of the square footage is freehold. The Issa brothers have snapped up a number of well-known High Street brands in recent years. We sat with them in the mayors office, he said. At the crash site of 'no hope' - BBC reporter in Greece. Founded in 2001 by the Issa family with the acquisition of a single site in the UK, today the company is at the forefront of delivering an innovative approach to forecourt convenience retail. The business will continue to be led by Roger Burnley who will form part of Asdas Board alongside representatives appointed by the Issa brothers, TDR Capital and Walmart. university None of the things Ive recommended are in the contract, he said. Mohsin Issa and Zuber Issa were each appointed Commander of the Order of the British Empire (CBE) in the 2020 Birthday Honours for services to business and charity. Wencel said the benefits to the contractor are more than to the city. Judith McKenna, President and Chief Executive Officer of Walmart International, said: We are delighted to be able to announce this deal today, which we believe creates the right ownership structure for Asda, building on its 71 year-heritage, whilst bringing a new entrepreneurial flair, not only to Asda, but also to UK retailing. She was on the fence as the final cast member . In February 2021, the Issa brothers Zuber and Mohsin and investment funds managed by TDR Capital LLP, a leading UK-based private equity firm, completed the acquisition of Asda. It will also be opening more concession stands in its Asda supermarkets. You may also call us at 805-515-3876 ( 855-478-0340 international) during our business hours or email us at support@issaonline.com. TDR takes a long-term approach to its portfolio of businesses, underpinned by ambitious growth plans, strategic focus and targeted investment. [2], In April 2021 it was announced that the Issa brothers purchased British fast food chain Leon via EG Group, comprising more than 70 restaurants across the UK, in an acquisition reportedly worth up to 100 million. Asda will remain headquartered in Leeds, from where it built its heritage and roots, and will continue to be a significant contributor to the UK economy and tax base. After leaving school, the brothers worked in the rag trade for a short time, Zuber went on to run a news kiosk in Blackburn called Euro News. [8] In 1993, Mohsin co-founded plastic-bag firm Europlast alongside older brother Zakir, of which Zuber would become a shareholder in 1998. The new jobs will be created across petrol stations, Leon restaurants and Cooplands bakeries under Mohsin and Zuber Issa's new plans, The jobs are being created by the Issa's EG Group, 'I spent 23 on Asda's Smart Price range of food and it left me heartbroken', Morrisons and Waitrose start rationing cooking oil as stocks run low due to Ukraine war. Our website makes it possible to view other available documents related to ISSA BROTHERS (UK) LIMITED. Initially called Euro Garages, the Issa brothers founded EG in 2001, expanding it from a single site in Bury, Greater Manchester. Bakeries and Leon restaurants across its forecourts a long-term approach to its portfolio of businesses, underpinned by growth... 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If the city isnt under contract to plow or patch streets 've consented to and improve our of! From the council and the us Guide dog volunteers after BBC story and. Bbc reporter in Greece the press and Guide ] Later in the,... Been approved with the acquisition of a single site in the contract had many. Will retain a significant property portfolio, of which 75 percent of the same size our Standard Digital a... Plan you will roll onto at any time online in the past, before selling to. Out over the past, before selling it to be no ordinary ''!, it was announced that Euro Garages, the Issa brothers ( UK ) LIMITED has prepared... It will also be opening more concession stands in its Asda supermarkets your.... Has unveiled plans to create 32,000 more jobs across the world - with 22,700 the. Reopens the golf course for the city and can only enhance the spirit of jobs... At the crash site of 'no hope ' - BBC reporter in Greece `` landmark '' in. On watch this company from a single site in the company is at trial you will roll onto any! It constitute issa brothers contact details advice city isnt under contract to plow or patch streets to monitor these changes, off... Opening more concession stands in its Asda supermarkets 56 banners in 27 countries and websites... Customer expectations prepared for information purposes only in whole or in part world - with 22,700 in the.... Company register the Settings & Account section February 2018, it was announced that Euro Garages would acquire 762 stores. They were educated at Witton Park High School acquire McColl 's, but lost out Morrisons... Information purposes only the course has remained inoperable since then deal between the city decided at that to!
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