Britain’s Issa brothers and private equity group TDR Capital must address the competition regulator’s concerns that their purchase of the Asda supermarket chain could lead to higher fuel prices to avoid the deal being referred for an in-depth probe.
The Competition and Markets Authority (CMA) stated on Tuesday, April 20, that Zuber and Mohsin Issa and TDR’s purchase of a majority stake in Asda from United States giant Walmart could lead to higher petrol prices in some parts of the United Kingdom.
The brothers and TDR completed the £6.8 billion (US$9.5 billion) deal in February, having agreed it in October.
In a separate deal in February, EG Group, which is also owned by the brothers and TDR, agreed to buy Asda’s 323 petrol stations for £750 million.
The Asda petrol forecourts sale, under which the stations will continue to be Asda-branded, was considered by the CMA as part of its review of the Asda acquisition.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.