Billionaire Issa nearing deal to sell Asda stake to TDR Capital - report

(Sharecast News) - US private equity firm TDR Capital is reportedly closing in on a deal to buy petrol station billionaire Zuber Issa's stake in supermarket chain Asda. Bloomberg on Friday cited people familiar with the discussions as saying that the agreement for Issa's 22.5% stake would give TDR majority control and could be announced in coming weeks.

The sources declined to specify the terms being discussed.

It was understood that TDR's holding in Asda would rise to about two thirds, and the transaction would further the dismantling of the relationship between brothers Zuber and Mohsin Issa.