Asda deal could be struck this week

A sale of Asda could be agreed this week

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.

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