Slaughter and May is advising Walmart Inc. (Walmart) on the proposed sale of a majority stake in Asda Group Limited (Asda), a wholly-owned subsidiary of Walmart, to a consortium comprising the Issa brothers and TDR Capital. The enterprise value of the transaction is £6.8 billion, calculated on a debt-free and cash-free basis.
Walmart will retain an equity investment in Asda, and remain a strategic partner for the Asda business post completion.
The transaction is conditional upon certain regulatory approvals, and the expectation is that it will complete in H1 2021.
Emily Galvin / Trainee, Andy Goodworth / Trainee, William Parr / Trainee, Amelia Wrigley / Trainee
Emily AlHamarneh / Trainee
Nick Gill / Trainee
Richard Liu / Trainee