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Asda bought from Walmart by UK billionaire brothers in £6.8bn deal

Asda bought from Walmart by UK billionaire brothers in £6.8bn deal

Business
The billionaire brothers behind one of Britain's biggest petrol station operators have bought Asda from Walmart in a £6.8bn deal.Sky News exclusively revealed earlier this week that a consortium led by Mohsin and Zuber Issa, the bosses of Blackburn-based EG Group, and TDR Capital, the London private equity firm, had been selected by the American retail giant as the preferred bidder to takeover the supermarket chain. Live updates on coronavirus from UK and around world Image: Walmart will retain a stake in the business with a seat on the board Walmart will retain an equity investment in the business, with an ongoing commercial relationship and a seat on the board.Asda will remain headquartered in Leeds and will continue to be led by cu...