×
74 043
Fashion Jobs
THE REALREAL
Sales Account Manager (Account Luxury Manager)
Permanent · Los Angeles
HOMEGOODS
Loss Prevention Customer Service Associate
Permanent · Plymouth
HOMEGOODS
Loss Prevention Detective
Permanent · Edina
TJ MAXX
Retail Store Cleaning Part Time
Permanent · Corvallis
HOMEGOODS
Loss Prevention Associate- Full Time
Permanent · Worcester
AMERICAN EAGLE OUTFITTERS
Specialist - Commercial Asset Protection - us
Permanent · ELIZABETH
MONCLER
Raw Material Purchasing
Permanent ·
MONCLER
HR Analyst
Permanent ·
ROSS
Store Protection Specialist
Permanent · Los Angeles
ROSS
Store Protection Specialist
Permanent · Villa Park
FOOT LOCKER
sr. Director Marketing, Foot Locker North America
Permanent · New York
JCPENNEY
Asset Protection Associate - Auburn Mall
Permanent · Auburn
JCPENNEY
Asset Protection Associate - South Hill Mall
Permanent · Puyallup
JCPENNEY
Asset Protection Associate - Wheaton Plaza
Permanent · Wheaton-Glenmont
JCPENNEY
Asset Protection Associate - Woodland Shopg Cntr
Permanent · Grand Rapids
JCPENNEY
Asset Protection Associate - The Empire Mall
Permanent · Sioux Falls
JCPENNEY
Sales Floor Supervisor - Woodland Hills Mall
Permanent · Tulsa
JCPENNEY
Asset Protection Associate - Oak Park Shopg Cntr
Permanent · Overland Park
JCPENNEY
Asset Protection Associate - Parkway Plaza
Permanent · El Cajon
JCPENNEY
Sales Floor Supervisor - Coronado Center
Permanent · Albuquerque
JCPENNEY
Asset Protection Associate - West County Ctr
Permanent · Des Peres
JCPENNEY
Asset Protection Associate - Wellington Green s/c
Permanent · Wellington
Published
Feb 17, 2021
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Walmart completes Asda sale to Issa Brothers, TDR Capital

Published
Feb 17, 2021

Walmart Inc. said on Tuesday that it has completed the sale of its UK supermarket chain Asda to private equity firm TDR Capital and the Issa brothers, founders and co-CEOs of petrol station operator EG Group. 

Issa Brothers, TDR Capital completes Asda acquisition from Walmart. - Walmart


Walmart’s wholly-owned UK business was sold for an enterprise value of £6.8 billion, on a debt-free and cash-free basis. With its George line, Asda is one of the UK's biggest clothing retailers carrying womenswear, menswear and kidswear. It also sells beauty products and is a major homewares retailer.

Under the terms, the Issa brothers and TDR will acquire a majority ownership stake in Asda, while Walmart will retain an equity investment in the business, with an ongoing commercial relationship and a seat on the board.

Mohsin and Zuber Issa and TDR first agreed to buy a majority stake in Asda from the U.S. giant in October. The deal also means that it will be the first time that Asda has been owned by a UK-based entity since Walmart acquired it for £6.7 billion back in 1999.

Other groups also reportedly had an interest in the purchase of Asda. Walmart said it expected the Competition and Markets Authority (CMA) to consider a deal.

Likewise, in 2019, Walmart attempted to sell Asda to rival Sainsbury’s for  £7.3 billion, which was thwarted by the CMA. 

Walmart operates approximately 11,400 stores under 55 banners in 26 countries and e-commerce websites. Its fiscal year 2020 revenue was $524 billion. 

Copyright © 2023 FashionNetwork.com All rights reserved.