Issa brothers told to sell 27 fuel stations to takeover ASDA

Friday 07th May 2021 04:00 EDT
 
 

The £6.8 billion takeover of Asda by the Issa brothers has hit a roadblock. 

The billionaire duo have been told they will need to sell 27 fuel stations for the takeover to go ahead, the Mirror reported. It is being alleged that they would have to sell part of their network for the transaction to be reconsidered.

 

The warning from the Competition and Markets Authority (CMA) comes amid concerns the purchase of Asda could lead to higher petrol prices in some parts of the country. The CMA previously said these overlaps would financially impact consumers and could leave them worse off.

 

An investigation was launched into the Asda takeover in December, after the deal was given the go-ahead by Walmart. Its job was to investigate what impact the merger could have on competition and prices in the UK. If the deal goes through they will become the first British owners of the supermarket chain in 20 years.


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