Pic: Walmart
The Issa brothers—Mohsin Issa and Zuber Issa, co-chief executive officers of the EG Group, a UK-based global convenience and forecourts retailer, and investment funds managed by TDR Capital, a leading UK-based private equity firm, recently completed the acquisition of Asda, Walmart’s wholly-owned UK business, for an enterprise value of £6.8 billion.
The Issa brothers and TDR Capital have acquired 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.
Walmart, the Asda Group Limited, the Issa brothers and TDR Capital recently made this announcement in a statement.
The transaction received approval from the UK Financial Conduct Authority on February 8 and all deal conditions have been met in full.
Fibre2Fashion News Desk (DS)
The Issa brothers—Mohsin Issa and Zuber Issa, co-chief executive officers of the EG Group, a UK-based global convenience and forecourts retailer, and investment funds managed by TDR Capital, a leading UK-based private equity firm, recently completed the acquisition of Asda, Walmart's wholly-owned UK business, for an enterprise value of £6.8 billion.