Asda sold in €7.5bn deal

Asda will be back under British ownership for the first time since 1999.

Britain’s billionaire Issa brothers and private equity group TDR Capital have bought Asda from Walmart in a deal which gives the British supermarket chain an enterprise value of $8.8bn (€7.5bn) and the buyers a platform to roll out smaller stores.

Mohsin and Zuber Issa, who founded petrol station operator EG Group nearly two decades ago, are taking Asda back under British ownership for the first time since 1999, when US retail giant Walmart paid £6.7bn for it.