An agreement to acquire Asda from Walmart has been made by the Issa brothers and TDR Capital in a deal worth £6.8bn that included the Asda Opticians business.
The Issa brothers and TDR Capital have acquired a majority ownership stake and Walmart has retained an equity investment in the business.
Roger Burnley, CEO of Asda, said: ‘With our combined investment, expertise and ambition; Asda, Walmart, the Issa brothers and TDR have an incredible opportunity to accelerate our existing strategy and develop an even more exciting offer for our customers as well as strengthen our business for our colleagues.’
Asda’s acquisition is subject to regulatory approvals, which is expected to complete in the first half of 2021.
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