Asda back in British ownership!

[JP_]

https://www.bbc.co.uk/news/amp/business-54383131

Asda bought back from Walmart. Some parts of British business in good health!

 

[Brigadier]

https://www.bbc.co.uk/news/amp/business-54383131

Asda bought back from Walmart. Some parts of British business in good health!

And wasn't it for less cash than it was when Walmart bought it, twenty years ago?

 

[crystal ball]

Wasn't it for a majority shareholding?

 

[fillyboy]

https://news.sky.com/story/asda-bought-from-walmart-by-billionaire-brothers-in-6-8bn-deal-12087643

The billionaire brothers behind one of Britain's biggest petrol station operators have bought Asda from Walmart in a £6.8bn deal.
Sky News exclusively revealed earlier this week that a consortium led by Mohsin and Zuber Issa, the bosses of Blackburn-based EG Group, and TDR Capital, the London private equity firm, had been selected by the American retail giant as the preferred bidder to takeover the supermarket chain.

Walmart will retain an equity investment in the business, with an ongoing commercial relationship and a seat on the board.
Asda will remain headquartered in Leeds and will continue to be led by current chief executive Roger Burnley.

The new owners have promised to invest more than £1bn in the business over the next three years as well as continue to offer low prices across its stores.

The sale brings Asda back under British ownership for the first time since 1999, when Walmart paid £6.7bn for the business.

 

[JP_]

Can't believe it's 20 years

 

[Deleted member 267285]

Can't believe it's 20 years

I seem to remember an Asda local to me being a Fine Fayre, then Gateway before becoming Asda.

 

[JohnD]

Asda back in British ownership!

Just to check, do you mean it us now owned by British citizens who pay UK taxes?

If true, that would be fine.

Is it?

 

[conny]

Just to check, do you mean ut us now owned by British citizens who pay UK taxes?

If true, that would be fine.

Is it?

Stop being so cynical.

 

[mattylad]

Apparently they are also very much in debt high risk players (according to the bbc news on my phone - hence no linky).

 

[securespark]

I seem to remember an Asda local to me being a Fine Fayre, then Gateway before becoming Asda.

Fine Fare was taken over by Gateway. Gateway became Somerfield and 61 Gateway stores were sold to Asda.
Somerfield took over Kwik Save and Somerfield was eventually bought out by Co-op.

Safeway was purchased by Morrisons in 2005.

Asda bought Netto's stores.

Iceland bought 51 Woolworths stores after the chain went bust.
Asda and Farmfoods joined forces to make a bid for Iceland, and Morrisons, Asda and Sainsbury have all expressed an interest in buying Iceland.
Iceland have stores in Iceland!

 

[ReganAndCarter]

And wasn't it for less cash than it was when Walmart bought it, twenty years ago?

Rollback?

 

[JP_]

Wasn't it for a majority shareholding?

Yes, that's what i read.
Means ownership.

 

[crystal ball]

Majority ownership according to Rishi

 

[EddieM]

My great grandfather, a dairy farmer was one of the founding members of associated dairies, which merged with Asquith butchers and became known as Asquith and Dairies .

 

[Notch7]

My great grandfather, a dairy farmer was one of the founding members of associated diaries, which merged with Asquith butchers and became known as Asquith and Dairies .

Gosh, you learn something everyday.......




Eddie comes from a line of great dairy farmers