Deals
Walmart to Seek September Bids for $10 Billion Grocer Asda
- Apollo, Lone Star, TDR Capital consider making binding offers
- Sale of British grocery Asda revived after Covid delay
Photographer: Simon Dawson/Bloomberg
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Walmart Inc. has asked suitors for its U.K. grocery unit Asda to submit second-round bids by early September, according to people familiar with the matter, as it forges ahead with a revived sale of the business.
Private equity firms Apollo Global Management Inc., Lone Star Funds and TDR Capital are considering binding offers by the deadline, the people said. Asda could fetch around $10 billion in any sale, according to the people, who asked not to be identified because the information is private.