Walmart revives talks on sale of Asda

Walmart has restarted discussions to sell a majority stake in its U.K. grocery business, Asda and wants bids by September, according to business reports from BBC and Bloomberg.

The bidding would be a second round, with one that took place earlier this year and included three financial investors, Apollo Global Management, Lone Star Funds and TDR Capital.

Walmart acquired Asda in 1999 in a bid it won with an offer of close to $11 billion.

In 2018, the retail giant reached an agreement with U.K.’s  J Sainsbury to sell a majority in the supermarket chain for roughly $10.1 billion, in a deal that would have created the largest grocery operator in that country, but the deal was not approved by the U.K. competition authority.

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