Walmart said it has revived talks on a potential sale of its UK grocery unit Asda, after the potential multibillion-dollar deal was put on hold earlier this year amid the coronavirus pandemic.
The world’s biggest retailer and Asda are in discussions with a “small number” of suitors interested in acquiring a stake in the British business after renewed inbound interest, reported The Financial Times.
The US group said in a statement on Monday that it was in talks with “a small number of third-party investors” to take an interest in the grocer, “following renewed inbound interest”.
It added: “There is no certainty that a transaction will happen and we will not be providing any further comments on these discussions.”
Walmart has also been considering a float of Leeds-based Asda, which has more than 600 stores, after UK competition authorities last year blocked a proposed tie-up with local rival J Sainsbury. While Walmart put the sale talks on hold for the pandemic, it remained keen to reduce its exposure to the highly competitive UK market and focus on faster-growing markets such as China and India.
The company did not identify Asda’s suitors. Private equity firms including KKR have considered making a move for the chain. One of KKR’s advisers, Tony De Nunzio, previously ran the UK company.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI