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Walmart Sells Majority Stake in Asda

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Walmart sells majority stake in British grocery chain Asda as it shifts attention to India and possible joint venture with Tata Group.
Walmart will retain an unspecified minority interest in Asda following completion of the deal, which is expected to close in early 2021.
CREDIT: Paul Faith/PA Wire via AP

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U.K. supermarket chain Asda is headed back to British ownership, now that Walmart is selling a majority stake in the company. Terms of the deal were not disclosed, but the total enterprise value is believed to be in the range of $6.8 billion pounds ($8.79 billion). The new majority stakeholders will be British billionaire Issa…

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