Asda is a British supermarket chain with more than 600 stores and over 175,000 employees. It is the second largest chain in the United Kingdom after Tesco. The company was founded in 1965 by a group of Yorkshire farmers and is now part of the American retail giant Walmart.
Walmart acquired Asda in 1999 for £6.7 billion. At the time, Asda was the third largest supermarket chain in the UK with 321 stores and annual sales of £8 billion. The acquisition made Walmart the largest retailer in the world.
Walmart has since invested heavily in Asda, expanding its store network and introducing new services such as click-and-collect and home delivery. In 2016, Walmart sold a minority stake in Asda to a consortium of investors led by private equity firm Advent International for £3.3 billion.
However, Walmart still retains a majority stake in Asda and is its largest shareholder with a 63% stake.
Conclusion :
How much of Asda does Walmart now own? Walmart still owns a majority stake in Asda with 63% ownership of the company.
