A sale of Asda could be agreed later this week by parent company Walmart, it is understood.
The sale of a majority stake in Asda by parent Walmart drew nearer after suitors Apollo Global Management and Lone Star Funds made offers valuing the grocer at approximately £6.5bn.
Walmart, which is expected to retain a stake in Asda, decided to offload the business after a planned merger with rical Sainsbury’s was scuppered on competition gounds.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.