Billionaire Issa brothers buy Asda
Blackburn-based Indian billionaires the Issa brothers and private equity group TDR Capital bought Asda from Walmart for GBP 6.8 billion. Walmart has kept a minority share in the business and the management team will stay in its place. The buyers plan to invest more than GBP 1 billion in Asda in the next 3 years.
Related news
Walmart brings food waste reduction tech to 1.4K stores
The retailer partnered with organics recycler Denali to install technology that separates food…
Read more >Asda co-owner injects £30m to ‘improve store experience’ to stop falling sales
Asda co-owner Mohsin Issa is to inject an emergency £30m…
Read more >55% of Gen Z have made an online purchase while browsing social media
A new survey from Walmart and Morning Consult indicates that…
Read more >
More related news >
Related news
A new office responsible for food safety and retail trade can be established under the leadership of Márton Nagy
A new top organization called the National Trade Office could…
Read more >K&H: Almost two-thirds of businesses are planning development
The majority of domestic micro, small and medium-sized enterprises, 61…
Read more >KSH: industrial production fell by 8.2 percent in June
In June 2024, the volume of industrial production was 8.2…
Read more >