Report: Walmart Picks Winning Bidders for U.K. Unit Asda
The future owners of Walmart's (NYSE: WMT) Asda chain of supermarkets in the U.K. have been selected. Several media outlets report the American retail giant has opted to sell its British unit to a consortium of investment management company TDR Capital and brothers Mohsin and Zuber Issa, the founders of the gas station operator EG Group.
It is not yet clear how much the consortium will pay for Asda. Bloomberg, citing people with knowledge of the matter, reported current talks between the two sides hover at around 6.5 billion pounds ($8.3 billion).
The consortium was competing against U.S.-based Apollo Global Management for Asda, one of the more well-established U.K. grocery chains.
Source Fool.com
