Zuber Issa exploring £500m sale of Asda stake in split with brother February 4, 2024 One of the billionaire Issa brothers, who together co-own Asda alongside a private equity firm, is reportedly trying to offload his stake in the supermarket as it grapples with a mounting debt pile.
Asda private equity owners grilled by MPs as supermarket braces for historic strikes January 9, 2024 Asda’s private equity owners, TDR Capital, have refuted claims the firm is anti-trade union, as the supermarket braces for historic strike action.
Asda introduces self driving delivery vans in AI first April 17, 2023 Asda is rolling out its largest autonomous delivery trial with customers in London set to receive their groceries via self driving cars. The UK’s third largest grocery store is launching the scheme in partnership with Wayve, a developer of artificial intelligence for self driving cars, and the pair will use Jaguar I-Pace electric cars for [...]
Issa Brothers mull sale of Asda properties as debt rises March 12, 2023 Asda has launched a £8.6bn review of its property estate as the billionaire brothers behind the business scramble for options to reduce its debt pile, according to reports. According to reports in The Telegraph, owners Mohsin and Zuber Issa backed by private equity backers TDR Capital, are targeting the sale and leaseback of Asda’s supermarket [...]
Ex-Asda boss secures rescue deal of upmarket online butcher April 24, 2023 The former boss of supermarket Asda has led a rescue of an upmarket online butcher that counts the likes of Harrods and Fortnum & Mason among its customers. Andy Clarke – who was chief executive of Asda from 2010 until 2016 – headed up a group of investors to buy Farmison & Co, which collapsed [...]
Asda slashes petrol prices after CMA review December 8, 2022 Asda has slashed petrol prices at the pumps over the past two days, opening up the possibility of a price war with its supermarket rivals.
Asda chairman says supermarkets owed ‘debt of gratitude’ as he snubs profiteering claims September 5, 2023 Asda’s chairman said supermarkets are owed a “great debt of gratitude” as he rebuffed claims that the grocer is profiteering from rising petrol and food prices amid the cost of living crisis. Speaking to LBC, Stuart Rose said that all retailers have seen their profits over the last year go “backwards”. “If you look at [...]
Issa Brothers double-up Asda and EG Group to create forecourts giant May 30, 2023 Asda has confirmed plans to acquire the UK and Ireland division of petrol giant EG in a deal that will create a UK consumer giant with £30bn-worth of revenues a year. The supermarket, which is headed by the billionaire Issa brothers, has purchased the brothers’ other business, the EG Group, for £2.27bn. Asda is now [...]
Asda chief Mohsin Issa looks to shrug off debt fears in grilling from MPs December 19, 2023 The billionaire co-owner of Asda, Mohsin Issa, has defended the firm’s complex corporate structure and mounting debt pile today amid growing concerns from MPs over the management of the supermarket group.
Asda owners tying up £10bn merger with petrol giant EG May 25, 2023 The billionaire owners of Asda and petrol giant EG are reportedly gearing up to tie a ribbon on their £10bn merger in Britain. The deal, which will create a cluster of 170,000 employees and revenues of £30bn, is set to be announced on Friday, according to reports in Sky News. If confirmed, the group will [...]