It had been a long time coming, but when the high-yield bond to finance the purchase from Walmart of a majority stake in Asda finally priced on February 10, it was worth the wait.
Walmart had announced the sale for £6.8 billion of a majority stake in its UK affiliate back in October 2020. The stake was sold to the Issa Brothers, founders and co-CEOs of EG Group, a global convenience and forecourts retailer headquartered in Blackburn, and to investment funds managed by TDR Capital, the UK-based private equity firm.
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