Walmart sells majority stake in Asda
October 2, 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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