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DEALMAKERS


IN ASSOCIATION WITH:


By Ged Henderson


RIGHT FOR THE ISSAS? THE STANDOUT DEAL


Mohsin and Zuber Issa are known for keeping a low profile. That is proving to be increasingly difficult after their latest massively high-profile deal put them firmly in the spotlight.


 the billionaire Blackburn brothers swooped in October to acquire UK grocery giant Asda from its US owner Walmart for an enterprise value of 


 headlines and follow-up stories in the business  


From just one petrol station in Bury almost two decades ago, the Issa brothers have built EG Group into a global convenience retailer with 


Stories following the Asda sale announcement   claimed there were concerns over governance 


In response, the EG Group said that KPMG had been appointed new auditor of the petrol station operator, which is not involved in the Asda


 continued progress with our internal processes, 


   been no disagreements on any auditing or 


Mohsin and Zuber


have built EG Group into a global convenience retailer and will now bring that experience to bear at Asda


 Group was considering an initial public offering (IPO) next year that could value the business  business was in early talks with banks and the 


 there is no formal process at this stage, though


it has been no secret that an IPO might be 


Meanwhile, there is growing speculation at the direction the brothers may take their new 


Under the new ownership structure, the   Walmart will retain an equity investment in the business, with an ongoing commercial  been widely reported that the deal is being 


 helm as Asda’s chief executive and it will keep  subject to regulatory approvals and is expected 


  to invest more than £1bn over the next three   retaining its industry-leading payment terms 


In a statement, Mohsin and Zuber said:  operational excellence and commitment to the communities in which it operates are the same 


IS THE ASDA PRICE


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