Asda Takeover Completed as Issa Brothers Split Made Official

Issa Brothers Acquire Majority Stake in Asda

After months of speculation, the Issa brothers have finally completed their takeover of Asda, the UK's third-largest grocery chain. The deal, which was first announced in October 2020, sees the brothers acquire a majority stake in Asda from Walmart, the US retail giant.

Mohsin Issa to Become Asda Chairman

As part of the deal, Mohsin Issa will become the new chairman of Asda, while Zuber Issa will become the deputy chairman. The brothers have a wealth of experience in the retail sector, having founded Euro Garages, one of the UK's largest forecourt operators.

Walmart to Retain Minority Stake

Walmart will retain a minority stake in Asda as part of the deal, and will continue to provide support to the business. The Issa brothers have said that they are committed to investing in Asda and growing the business.

Asda to Remain Independent

The Issa brothers have also said that Asda will remain an independent business, and that they have no plans to merge it with Euro Garages. This is good news for Asda customers, who can expect the same great products and services from the supermarket.

Conclusion

The completion of the Asda takeover is a significant event in the UK retail sector. The Issa brothers are experienced retailers, and they are committed to investing in Asda and growing the business. This is good news for Asda customers, who can expect the same great products and services from the supermarket.