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Indian-origin billionaire brothers buy retail giant Asda

Indian-origin billionaire brothers Zuber Issa and Mohsin Issa, on Friday announced the acquisition of retail giant Asda (valued at £6.8 billion) currently owned by Walmart of the US.

A consortium of Zuber Issa and Mohsin Issa and private equity firm TDR Capital will take a majority stake in Asda.

Walmart had bought Asda in 1999 for £6.7 billion, and will retain a minority stake in the chain.

 

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