Walmart Inc. has completed the sale of a majority position in the ASDA Group Ltd. to the EG Group owned by the Issa Brothers, with the participation of TDR Capital.  The transaction is valued at $9.5 billion and follows extensive negotiations.

The EG Group operates convenience stores and gas stations in the U.K and the E.U.  TDR Capital LLP is a prominent private U.K. equity firm.

Walmart will retain an equity investment in the business with ongoing commercial involvement and will have a seat on the Board.

Issa Brothers

In February 2019, Walmart was forced to consider alternatives to an intended sale to rival supermarket chain Sainsbury for a reputed $10 billion The U.K. Competition and Markets Authority blocked the sale as contributing to consolidation to the detriment of consumers. This potential and ultimately non-consummated sale was concluded in advance of a projected decline in property values following withdrawal of the U.K. from the European Union.