On October 3, 2018, Walmart announced that it had sold Asda, its UK grocery subsidiary, to Sainsbury’s for £7.3 billion. The deal, which is subject to regulatory approval, is expected to close in early 2019. If approved, the deal would create the UK’s largest grocery retailer with a market share of around 31%.
The sale of Asda is part of Walmart’s strategy to focus on its core markets in the United States and China. In recent years, Walmart has been selling off non-core assets, including its Brazilian operations and a majority stake in its Japanese subsidiary, Seiyu GK.
Sainsbury’s is one of the UK’s leading grocery retailers with over 2,000 stores and a market share of around 16%. The company has been on an expansionary course in recent years, acquiring the Argos and Habitat retail chains.
The acquisition of Asda would be a transformational deal for Sainsbury’s, significantly increasing its scale and reach. It would also give the company a strong foothold in the convenience store market.
How much has Walmart sold Asda for?
Walmart has sold Asda for £7.
