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
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI