UK’s Asda says TDR Capital to become majority owner

LONDON, June 7 (Reuters) – Britain’s Asda said on Friday that private equity firm TDR Capital will gain majority ownership of the supermarket group by acquiring Zuber Issa’s share in the business, which is still 10% owned by U.S. giant Walmart Inc (WMT.N), opens new tab.

Buying Zuber Issa’s 22.5% stake will give TDR 67.5%, with 22.5% still owned by his brother Mohsin. Asda said the transaction is set to complete in the third quarter of 2024.