Green light for Asda takeover by EG Group

The UK Competition and Markets Authority (CMA) has cleared the £6.8bn takeover of Asda, owned by US company Walmart, by EG Group founders Mohsin and Zuber Issa and TDR Capital, subject to the divestment of 27 EG Group forecourts.

The CMA had previously outlined concerns regarding the impact of the deal on fuel retailers in 36 local areas. As a result, each of the divested sites will need to be sold and continue to operate so that competition is maintained in those areas.