The acquisition of UK supermarket chain Asda for GBP6.8bn (US$8.8bn) by UK entrepreneurs the Issa brothers and private equity firm TDR Capital has been completed this week.

The Issa brothers, founders and co-CEOs of EG Group, a global convenience and petrol forecourts retailer, agreed to acquire a majority stake in Asda in early February 2021. Under the deal, former owner Walmart will retain an equity investment in the business, with an ongoing commercial relationship and a seat on the board.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Regulatory approval by the Competition and Markets Authority (CMA) is expected in the second quarter of 2021.

In a joint statement earlier this month, Zuber Issa and Mohsin Issa said: “We are excited to have the opportunity to further strengthen our network in the UK through the proposed acquisition of Asda’s forecourt business, which will enhance our position as a major independent forecourt operator and provide a platform for future growth of the combined network.”

Just Style Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Style Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now