Walmart strikes deal with billionaire Issa brothers to sell its UK grocer Asda

Walmart said it is selling its UK supermarket chain Asda to billionaire brothers Zuber and Mohsin Issa in a deal that values it $8.8 billion (£6.8 billion) net of debt and cash. Asda will now be owned by a consortium run by the brothers and private equity firm TDR Capital. Asda’s new owners say they will pump over £1 billion (~$1.3 billion) in the next three years in Asda to further strengthen it.

Walmart strikes deal with billionaire Issa brothers to sell its UK grocer Asda

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