British Brothers Move Closer to Completing Leveraged Asda Deal
- Issas, TDR commit 780 million pounds of equity to purchase
- Brothers plan to sell some of Asda’s distribution warehouses
An Asda supermarket in London.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Two British brothers are on the cusp of tying up the financing for their takeover of grocer Asda, the U.K.’s largest leveraged buyout in more than a decade.
In a deal that could shake up Britain’s highly competitive grocery market, Zuber and Mohsin Issa and TDR Capital will pay less than a billion pounds of their own money to gain control of Asda in a transaction valuing the country’s third-largest grocer at 6.8 billion pounds ($9.2 billion), according to people familiar with the matter.