Walmart resumes talks to sell Asda stake

Walmart has restarted talks over the potential sale of a stake in Asda, more than a year after its failed merger with Sainsbury’s.

The US retail giant stated that it was in discussions with “a small number of third-party investors”, following speculation around potential private equity interest which valued the UK big four supermarket chain at around £7 billion.

“Walmart and Asda have restarted conversations with a small number of third-party investors who are interested in acquiring a stake in Asda and partnering with Walmart, following renewed inbound interest,” explained a statement from Walmart.

“The pandemic has demonstrated Asda’s resilience and the key role we play in supporting different communities," it continued.

“We have a clear strategy and a long heritage in delivering value for customers and with this in mind, we believe now is the right time to explore options for a third party to invest in our business to accelerate the long-term delivery of our value strategy, both in stores and online."

Walrmart added that there is no certainty that a transaction will happen "and we will not be providing any further comments on these discussions".

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