TDR Capital is reportedly close to acquiring a significant stake in Asda, owned by gas-station billionaire Zuber Issa, for approximately £500 million. This deal comes as Asda, the UK's third-largest supermarket chain, announced a 24% increase in annual earnings to $1.24 billion, alongside a 7.1% rise in total sales. Despite losing market share to rivals, the company highlighted its strategic progress and debt reduction. Additionally, Asda is planning to raise substantial funds through loans and bonds totaling €1 billion and £1.75 billion to refinance existing debts.
Watch Business Live with @IanKingSky... 👇 🔹The FTSE-100 knocking on the door of a record closing high 🔹 UK's third largest supermarket - Asda - reports a slowdown in sales growth, but a big rise in underlying profits https://t.co/L2J4921zVt
Asda looking to raise €1bn and £1.75bn in loans/bonds to refinance some of its sterling bonds maturing in 2026. Apparently has been heavily pre-marketed to various funds. Interesting timing hot on the heels of the @sabahmeddings scoop on TDR looking to buy out Zuber's stake...
Asda, Britain's third biggest supermarket group, reported a 24% jump in annual earnings to $1.24 billion, saying it was making strategic progress despite losing market share to rivals. More here: https://t.co/qBQuXkooJj https://t.co/DlZYg2KmWD
Asda reported a 24% rise in annual earnings that reflected a 7.1% rise in total sales for Britain's third biggest supermarket group, which said it had also cut its debt https://t.co/B0hN98ZRSr https://t.co/NfmzwpUifJ
Asda reported a 24% rise in annual earnings that reflected a 7.1% rise in total sales for Britain's third biggest supermarket group, which said it had also cut its debt. Read more: https://t.co/qBQuXkooJj https://t.co/Wtj8lr2NQ6
Asda, Britain's third biggest supermarket group, reported a 24% jump in annual earnings to $1.24 billion, saying it was making strategic progress despite losing market share to rivals https://t.co/B0hN98ZRSr https://t.co/QBFrFvaRxw
🇬🇧 Asda: Billionaire Zuber Issa close to selling £500m stake https://t.co/UIxkNGBYJP
🇬🇧 Zuber Issa closes in £500m Asda stake sale to TDR Capital https://t.co/EwIKTdVyg4
🇬🇧 Asda co-owner Zuber Issa close to selling £500m stake https://t.co/OAvKG73nkj
Billionaire Issa brother nears deal to sell Asda stake to TDR Capital https://t.co/I1EnoDwmM3
TDR Capital is closing in on a deal to buy gas-station billionaire Zuber Issa’s stake in Asda https://t.co/SBFKYxmunE via @sabahmeddings @markets #PrivateEquity
TDR Capital is closing in on a deal to buy gas-station billionaire Zuber Issa’s stake in Asda https://t.co/1wPrp8sUlv
*TDR CAPITAL SAID TO NEAR DEAL TO BUY ZUBER ISSA'S STAKE IN ASDA TLDR Capital would be better.