A key co-owner of Asda has sold his stake to a private equity company, making it the majority owner. Zuber Issa, the co-chief executive, sold his 22.5% share in Asda to private equity backer TDR Capital. Money blog: Victorian island forts - complete with helipads and nightclubs - up for sale Now TDR is the majority owner, controlling 67.5% of the supermarket group. The deal is set to be completed in the third quarter of this year, the company said.
The other remaining owners of Asda are Walmart - the old owners, who held on to 10% - and Mohsin Issa, Zuber's brother. His stake is 22.5%. The company's labyrinthine corporate structure was the subject of MP questions in December as there are 16 different entities between the owners and the supermarket operating company, many of them registered offshore. Who are the Issas? Billionaires Zuber and Mohsin Issa bought Asda from Walmart for £6.