Walmart Sale of Asda Likely to Be Approved By U.K.’s CMA
- Sale of 27 gas stations may be enough for deal approval
- Regulator had raised competition concerns over fuel prices
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Walmart Inc.’s sale of a majority stake in Asda is poised for approval by U.K. antitrust regulators, finally allowing for a gradual exit from Britain’s grocery sector after more than two decades.
The Competition and Markets Authority said it was likely to accept an offer from the consortium of TDR Capital and the Issa brothers, the sibling duo behind the convenience-store operator EG Group to sell 27 gas stations. The regulator previously said there were potential competition concerns in some local areas.