Asda co-owner and billionaire Zuber Issa is reportedly edging closer to securing a deal to sell his £500m stake in the grocer to private equity firm TDR Capital.

Issa’s 22.5% stake would give TDR majority control over the supermarket and could be announced in “the coming weeks”, sources told Bloomberg.

The specific terms of the deal are unknown but TDR’s holding in Asda would rise to around two-thirds.

The potential sale of the stake could cause a further rift between Zuber and Mohsin Issa, as it was reported last month that the two are looking to disentangle their assets.

The brothers partnered with TDR three years ago to buy Asda from Walmart for £6.8bn.

In April, it also emerged that Zuber Issa intends to step down as co-chief executive of EG Group, which the pair founded in 2001.

They have since built up a £24.1bn empire of petrol stations and convenience stores across Europe, the US and Australia.

Mohsin Issa is also reportedly relinquishing his day-to-day control of Asda to concentrate on leading EG Group. A search for a new Asda CEO is taking place.

When the sale of Zuber’s stake is complete, Mohsin will own 22.5%, Walmart will keep its 10% stake, while TDR will have the rest, according to sources.

Asda is also expected to publish its full-year accounts next week.

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