Issa Brothers and TDR Capital complete acquisition of Asda from Walmart. Credit: © Walmart Inc.

Multinational retail corporation Walmart has completed the divestment of its wholly-owned UK business Asda to Issa brothers and TDR Capital.

In October, Issa brothers and TDR Capital secured a deal to take control of majority ownership stake in Asda for £6.8bn on a debt-free and cash-free basis.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The two companies will have equal shareholdings in the supermarket chain.

Earlier this month, the transaction received approval from the FCA, expected for approval by the UK regulator Competition and Markets Authority (CMA) in the second quarter of 2021.

Under the new ownership structure, Walmart will retain an equity investment in the business. Also, it will continue with its existing commercial relationship and a board seat secured.

Following the acquisition, Asda will continue to be headquartered in Leeds and led by Roger Burnley.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In December, the CMA launched Phase 1 investigation into Bellis Acquisition Company 3 Limited’s proposed purchase of Walmart’s UK business Asda Group.

The new owners plan to invest more than £1bn over the next three years to strengthen the business and its supply chain.

At the time of announcing the deal, TDR Capital Gary Lindsay said: “We are proud to be investing alongside Mohsin and Zuber, who have built EG Group into a global convenience retailer and will now bring that experience to bear at Asda.

“We look forward to supporting them, and Roger Burnley and the management team at Asda, to build on the business’s inherent strengths and drive long-term sustainable growth.”