Issa bros and TDR Capital complete $9.5 billion Asda purchase

  • 2/16/2021
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LONDON (Reuters) - Britain’s Issa brothers and private equity firm TDR Capital said on Tuesday they had completed the acquisition of supermarket group Asda from Walmart for an enterprise value of 6.8 billion pounds ($9.5 billion). The brothers and TDR have bought 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 was announced in October. The transaction is still subject to regulatory approval. The Competition and Markets Authority has set a April 20 deadline for a ruling. The brothers and TDR said they “remain confident” of a positive outcome. ($1 = 0.7192 pounds)

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