Canada's most authoritative and exciting grocery b2b publication
Industry NewsWalmart completes sale of UK business Asda

Walmart completes sale of UK business Asda


Walmart has completed the sale of its U.K. based business Asda. 

The Issa brothers, founders and CEOs of EG Group, a global convenience and forecourts retailer in the U.K. and private equity firm TDR Capital have completed the acquisition of Asda, Walmart’s wholly-owned U.K. company. Walmart announced last Fall that it would sell its majority stake in Asda for $8.8 billion.

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 deal comes after close to two years when U.K. regulators rejected an April 2018 sale of Asda to Sainsbury, citing competitive market concerns.

Follow us:

Recent Issues

Related Articles