Walmart said it has revived talks on a potential sale of its UK grocery unit Asda, after the potential multibillion-dollar deal was put on hold earlier this year amid the coronavirus pandemic.
The world’s biggest retailer and Asda are in discussions with a “small number” of suitors interested in acquiring a stake in the British business after renewed inbound interest, reported The Financial Times.
The US group said in a statement on Monday that it was in talks with “a small number of third-party investors” to take an interest in the grocer, “following renewed inbound interest”.
It added: “There is no certainty that a transaction will happen and we will not be providing any further comments on these discussions.”
Walmart has also been considering a float of Leeds-based Asda, which has more than 600 stores, after UK competition authorities last year blocked a proposed tie-up with local rival J Sainsbury. While Walmart put the sale talks on hold for the pandemic, it remained keen to reduce its exposure to the highly competitive UK market and focus on faster-growing markets such as China and India.
The company did not identify Asda’s suitors. Private equity firms including KKR have considered making a move for the chain. One of KKR’s advisers, Tony De Nunzio, previously ran the UK company.
Featured News
Plaintiffs Seek Communications In Antitrust Case Against Pioneer
May 9, 2024 by
CPI
UK Government Approves Vodafone-Hutchison Merger
May 9, 2024 by
CPI
Senate Majority Leader Announces Plan for AI Regulation Framework
May 9, 2024 by
CPI
BBVA Initiates Aggressive Takeover Bid for Sabadell
May 9, 2024 by
CPI
TikTok to Label AI-Generated Content Amid Election Interference Concerns
May 9, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI