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    Home»Deals»Issa brothers and TDR Capital complete $9.5 bln Asda purchase
    Deals

    Issa brothers and TDR Capital complete $9.5 bln Asda purchase

    February 16, 20211 Min Read
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    2D05RPB Picture shows EG Group founders Mohsin, right, and Zuber Issa in Blackburn Nov 13, 2019. (Photo/Jon Super 07974 356-333)
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    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.

     

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    Source: Reuters

    Reporting by James Davey; editing by William James

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