UK Regulator Starts Probe into Bellis' Acquisition of Asda Group

   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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