Supermarket giant ASDA has been sold for £6.8bn, it has been reported.American-owned Walmart has accepted an offer from a consortium of Zuber and Mohsin Issa and private equity firm TDR Capital, meaning the supermarket chain will be majority owned by UK firms for the first time in over 20 years.
Burnley brothers Zuber and Mohsin Issa, who were raised in a terraced house in Blackburn, are self-made billionaires, who made their fortune through petrol stations.Roger Burnley, chief executive officer of Asda, said: "This new ownership opens an exciting new chapter in Asda’s long heritage of delivering great value for UK shoppers."With our combined investment, expertise and ambition, Asda, Walmart, the Issa brothers and TDR have an incredible.
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