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 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.
A joint statement from the grocers said: “Asda is a great business with a clear strategy for the future and Walmart is committed to ensuring it has the resources and support it needs to deliver that strategy.
“No decisions have been made and we will not be commenting further on these discussions. If or when we decide to pursue this opportunity further our first priority will be to share more detailed information with our colleagues.”
This moves comes after speculation that Walmart is eyeing a sale or IPO of Asda after the grocer’s merger with Sainsbury’s was blocked last year.
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