One of the billionaire brothers who co-owns Asda is reportedly considering selling his stake in the debt-ridden supermarket. Zuber Issa, 51, is said to be exploring a potential sale of his 22.5 per cent shareholding in Asda, which he acquired in partnership with his brother Mohsin and private equity firm TDR Capital in 2021. The purchase from Walmart cost them £6.8 billion.
Speculation surrounding a potential rift between the brothers has arisen following reports of Zuber’s sibling leaving his wife of 30 years for a new lover. This personal development may be influencing Zuber’s decision to potentially divest his stake in Asda.
Selling his shares in Asda could potentially free up Zuber to focus more on EG Group, a company founded by the brothers in 2001. EG Group is one of Europe’s largest independent fuel retailers. The move would allow Zuber to concentrate his efforts on the growth and development of this business venture.
While the decision to sell his stake in Asda is not yet confirmed, it reflects the complex dynamics that can arise within family-owned businesses. As the situation unfolds, it will be interesting to see how these developments impact both Asda and EG Group.
Please note that the information provided is based on sources and should be treated as speculation until official announcements are made.
