Asda is set for new ownership after Zuber Issa sold his stake in the supermarket group to private equity backer TDR Capital. TDR Capital, which helped finance Issa and his brother Moshin's debt-fuelled £6.8billion takeover of Asda in 2021, will become the group's majority owner after buying Zuber's 22.5 per cent stake. The private equity firm will own a 67.5 per cent stake in the group when the deal is completed, while Moshin retains his 22.5 per cent stake and former owner Walmart owns 10 per cent. With Mohsin and TDR's ongoing focus and shareholding, I am confident that Asda will achieve its growth ambitions.' Mohsin Issa added: 'Today's announcement further underlines my own and TDR's confidence both in Asda and the UK consumer market.

Source: Daily Mail June 07, 2024 12:16 UTC