Asda has been Acquired by Issa Brothers and TDR Capital

retailer supermarket grocery cart

Walmart Inc. (Walmart) has sold a majority stake of UK-based retailer Asda Group Limited (Asda) to billionaire brothers Mohsin and Zuber Issa and private equity firm TDR Capital LLP. Several reports confirmed the deal this morning, and the acquisition is worth £6.8 billion ($8.8 billion). The deal is expected to close H1 in 2021.

The brothers are the founders of Euro Garages Group (EG Group), a chain of petrol stations and fast food retailers. They founded the company in 2001 and it has since expanded to nearly 6,000 forecourts across 10 countries.

EG Group is backed by TDR Capital, which acquired a minority stake of £1.3 billion in the business in 2015. TDR Capital is a leading private equity firm which invests in UK and European businesses. TDR Capital has a long track record of ...

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