In 2018, Walmart announced that it would be selling a majority stake in Asda, one of the UK’s leading supermarkets, to Sainsbury’s. The deal, which is still awaiting regulatory approval, would see Sainsbury’s take over Asda’s stores, while Walmart would retain a minority stake in the combined company.
The move comes as Walmart seeks to focus on its core US market, where it is up against stiff competition from Amazon. In recent years, Walmart has been investing heavily in online shopping and delivery services in an effort to keep up with Amazon.
The sale of Asda will allow Walmart to invest more in these areas.
The deal between Walmart and Sainsbury’s is not yet finalized, and it remains to be seen whether it will be approved by regulators. However, if the deal does go ahead, it will create a powerhouse of a supermarket that will be able to compete with Amazon on a more equal footing.
Did Walmart buy Asda?
In 2018, Walmart announced that it would be selling a majority stake in Asda, one of the UK’s leading supermarkets, to Sainsbury’s. The deal would see Sainsbury’s take over Asda’s stores, while Walmart would retain a minority stake in the combined company. However, the deal has not yet been finalized and it remains to be seen whether it will be approved by regulators.
