Asda bought from Walmart by UK billionaire brothers in £6.8bn deal
Written by on 2 October 2020
The billionaire brothers behind one of Britain’s biggest petrol station operators have bought Asda from Walmart in a GBP6.8bn deal.
Sky News exclusively revealed earlier this week that a consortium led by Mohsin and Zuber Issa, the bosses of Blackburn-based EG Group, and TDR Capital, the London-based private equity firm, had been selected by the American retail giant as the preferred bidder to takeover the supermarket chain.
The sale brings Asda back under British ownership for the first time since 1999, when Walmart paid GBP6.7bn for the business.