Walmart ‘in discussions’ to sell Asda stake
Asda’s parent company Walmart has said it may sell a stake in the business and has opened discussions with a “small number of interested parties”.
The US grocery titan has said it is considering selling after receiving “inbound interest” from prospective buyers.
Walmart said it was “currently considering whether there is an opportunity for a third party to invest in Asda, alongside Walmart, in order to support and accelerate the delivery of Asda’s strategy and position Asda for long term success.”
Walmart has said that it would retain a significant stake in Asda if it were to sell shares, and “firmly believes that an IPO is an attractive long-term objective” for the retailer.
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