Asda

EG Group appoints Lord Stuart Rose as chair

The Issa Brothers’ EG Group has announced the appointment of Lord Stuart Rose as non-executive chairman with immediate effect. Lord…

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Asda paid Walmart £1.1bn dividend before sale, accounts reveal

Asda paid an intercompany cash dividend of £1.15bn to former parent company Walmart in March this year, despite profits being…

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CMA launches inquiry into Issa Bros’ Asda takeover

The CMA has announced the launch of a phase 1 inquiry into the Issa Brothers’ £6.8bn takeover of Asda.  It…

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UK sees grocery boom as shoppers hit stores early

Grocery sales rose by 11.3% in the 12 weeks ended 29 November 2020, the fastest rate of growth since August,…

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Asda gears up for ‘record Christmas’ as Q3 sales rise 2.7%

Asda has revealed it is gearing up for a “record Christmas” after it revealed its like-for-like sales increased by 2.7%…

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New Asda owners sell stake in EG holding company

The Issa brothers, the new billionaire owners of supermarket giant Asda, have reportedly generated hundreds of millions of pounds by…

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Asda opens new sustainability store

Asda has opened a new sustainability trial store and unveiled a new plastics reduction strategy that pledges that customers will…

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Deloitte resigns as EG auditors amid Asda acquisition

EG Group has appointed KPMG as its auditors after Deloitte resigned from the role due to “concerns over its governance…

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New Asda owners considering £3bn George sale

The Issa brothers, the new owners of ‘Big Four’ grocer Asda, are reportedly considering a £3bn sale of its clothing…

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Asda sold at £6.8bn to billionaire Issa brothers

Walmart has confirmed the Issa brothers and TDR Capital have taken equal shareholdings in an acquisition of Asda which values…

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