Walmart Sells Majority Stake in Asda to UK-based Investors
Retail TouchPoints
OCTOBER 2, 2020
Walmart will sell a majority stake in the UK-based grocery retailer Asda to the Issa brothers, the co-CEOs of EG Group , and TDR Capital for an enterprise value of $8.8 billion. The Issa brothers and TDR Capital will acquire equal shareholdings, while Walmart will retain an equity investment in the retailer with an ongoing commercial relationship and a seat on the board.
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