Walmart mandates Rothschild for Asda sale process
26 February 2020 - 12:00 am UTC
Walmart is working with Rothschild in a renewed attempt to sell UK grocer Asda, two people familiar with the situation told this news service.
Walmart opened the sale process to “a small number of interested parties” in response to inbound interest, the first person familiar said.
The process is still “early-stage”, the first person added, while the other one said the negotiations could be more advanced.
The bidders in the mix are all private equity funds, both people familiar and a sector banker said. If a sale materialises, Walmart is likely to maintain a “significant stake” in Asda, the first person familiar added.
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