Britain’s Issa brothers and TDR Capital buy Asda from Walmart

Walmart Inc. (NYSE: WMT) offloaded its British supermarket chain Asda to Issa brothers and TDR Capital (private equity group) on Friday. The agreement values Asda at £6.80 billion and offers a platform for buyers to launch smaller stores. Walmart reported £4.92 billion of net income in the fiscal second quarter. Founders of EG Group (petrol station operator), Mohsin and Zuber Issa, are bringing the supermarket chain back under British ownership after two decades. Walmart had acquired Asda in 1999 for £6.7 billion. Asda introduced vegan-only aisles across hundreds of stores last week. CEO Judith McKenna of Walmart commented on the