Asda announces the completion of TDR Capital’s purchase of Zuber Issa’s shares

• Completion sees TDR Capital increase their stake to 67.5% in the business

Following the announcement of the proposed transaction in June 2024, today Asda has confirmed that funds managed by TDR Capital LLP have completed the acquisition of Zuber Issa’s shares in the business.  This brings the ownership of Asda to 67.5% by TDR Capital, 22.5% by Mohsin Issa, and 10% by Walmart Inc.

Following completion of the sale of his stake in Asda, Zuber Issa has stepped down from his non-executive role on Asda’s board.  Asda’s board now comprises Lord Rose, Alison Carnwath, Mohsin Issa, Rob Hattrell, Gary Lindsay and Courtney Naudo.