Walmart sells its UK supermarket business in $10B deal
Walmart sells its UK supermarket business in $10B deal. Sainsbury. deal. Sainsbury.’s has agreed to buy Walmart’s U.K. unit, Asda, for 7.3B pounds ($10.1B) in cash and stock in a deal that would create Britain’s largest supermarket chain and marks a profound shift in the country’s grocery market.
The deal combines Britain’s second and third-largest supermarket chains, giving the combined company 31.4% of the market and putting it ahead of the current leader, Tesco, which has 27.6%, according to data from Kantar Worldpanel. Read more here.