Issa brothers/TDR to sell Asda forecourts business for 750 mln stg

The Issa brothers and TDR Capital will sell Asda's petrol forecourts business to EG Group, which they also own, for 750 million pounds ($1.03 billion) after they complete their deal to buy the British supermarket group from Walmart.

The Issa brothers and TDR Capital will sell Asda's petrol forecourts business to EG Group, which they also own, for 750 million pounds ($1.03 billion) after they complete their deal to buy the British supermarket group from Walmart. They said on Wednesday that completion of the Asda acquisition was expected later this month.

In October, the Issa brothers and TDR agreed to buy a majority stake in Asda in a deal that gave the group an enterprise value of 6.8 billion pounds ($9.30 billion). In addition to selling Asda's forecourts business the Issa brothers and TDR plan to sell some of Asda's distribution assets to institutional real estate investors.