UK Regulator Starts Probe into Bellis' Acquisition of Asda Group
December 08 2020 - 6:51AM
Dow Jones News
By Ian Walker
The U.K. Competition and Markets Authority said Tuesday that it
has started a Phase 1 investigation into Bellis Acquisition Co. 3
Ltd.'s planned acquisition of U.K. grocer Asda Group to see if it
will lessen competition within the U.K. for goods or services.
The regulator said that it has started a formal investigation
into the proposed deal following the European Commission's decision
to refer the case to the U.K. It has until Feb. 18, 2021 to
announce a decision.
On Oct. 3, Walmart Inc. agreed to sell its U.K. grocery-store
chain Asda to a private investment group in a deal that values the
company at 6.8 billion pounds ($8.8 billion).
The retail giant is selling a majority of Asda to TDR Capital, a
Europe-focused buyout firm, and U.K.-based entrepreneur brothers
Mohsin and Zuber Issa.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
December 08, 2020 06:36 ET (11:36 GMT)
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