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Walmart sells majority stake in Asda

BBC News 10/01/2020

Walmart has sold a majority stake in its Asda business for $8.8 billion to a group including Zuber and Mohsin Issa and TDR Capital. The sale by Walmart followed a rejection of a previous merger deal with Sainsbury’s by regulators in the UK. The new owners intend to pursue a convenience store expansion strategy recently put in motion by Asda.

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