Asda, Walmart’s UK division, may be sold to U.S. private equity firm KKR.

The rumours have arisen after the U.K. Competition and Markets Authority (CMA) suggested it might block the proposed merger of Asda with Sainsbury’s. The CMA expressed concerns about the £12 billion deal and identified hundreds of locations where competition might be impacted. It said the two grocers would need to sell at least 300 stores to a single buyer in order for the merger to be approved, reports Retail Dive.

According to other reports in the U.K. press, KKR would appoint Tony De Nunzio, who was president and CEO of Asda until 2005, as Asda Chair following an acquisition.

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