Private equity bidding war for Asda reaches its denouement

摘要

The fight to buy Britain's third-largest supermarket chain is reaching its climax. Last week, Lone Star Funds dropped out, leaving just two bidders for Asda, both private eguity firms: Apollo Global Management and TDR Capital. US-based private equity group Apollo Global Management was thought to be the f rontrunner, but early this week, Sky News reported that Asda's parent company, Walmart, had instead chosen London-based private equity group TDR Capital as the preferred bidder. The latest twist could finally seal the lid on Walmart's long-held ambition to sell Asda. It had hoped to offload the retail giant last year to Sainsbury's in a tie-up between the two grocers, but the UK's competition regulator blocked the merger, prompting Walmart to hunt for interest from private equity instead.