This Issa brother has sold his stake in Asda to focus on other business ventures.
Today it has been announced that a private equity firm has agreed to buy one of the Issa brother’s shares in Asda making them majority owners. TDR Capital bought Zuber Issa’s shares after he began talks earlier this year about selling his stake in Asda, and plans to focus on his other company, EG Group. Sign up for our free newsletters now The acquisition takes the ownership of Asda to 67.5% by TDR Capital, 22.5% by Mohsin Issa, and 10% by Walmart Inc.
” “As majority owners, we will continue to work closely with the Asda management team and colleagues across the business to support the ambitious strategy, which we believe is the right one to continue to move Asda forward.” Mohsin Issa, co-owner of Asda, said: 'Today's announcement further underlines my own and TDR's confidence both in Asda and the UK consumer market.
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