Walmart’s sale of a majority stake in Asda is poised for approval by UK antitrust regulators, finally allowing for a gradual exit from Britain’s grocery sector after more than two decades, reported Bloomberg.
The Competition and Markets Authority (CMA) stated it was likely to accept an offer from the consortium of TDR Capital and the Issa brothers, the sibling duo behind the convenience-store operator EG Group to sell 27 gas stations. The regulator previously stated there were potential competition concerns in some local areas.
The CMA considers the potential fix “or a modified version” to be “reasonable,” it stated on Wednesday, May 5. The decision by the antitrust regulator avoids a deeper investigation which could have delayed the overall deal. The CMA now has 40 days to work through the details of the proposed remedy.
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