Asda’s chief financial officer has said the £6.8bn sale of the retailer is “not a traditional private equity deal” as the billionaire Issa brothers reflect the grocer’s values and long-term strategic aims.
Finance boss Rob McWilliam told Retail Week that the new majority owners of Asda, Mohsin and Zuber Issa, were the bidders in the race who best reflected Asda’s values.
“It was a competitive process. With the Issas, this is not a traditional private equity deal, which might have been the case with some of the others. They talk our language,” he said.
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