Asda takeover: TDR-backed EG Group in pole position for £6.5bn deal

Billionaire owners of British petrol forecourts operator are Walmart’s preferred bidder

The billionaire owners of the British petrol forecourts operator EG Group have taken pole position in the race for control of Asda after being named the preferred bidder by the supermarket’s US owner.

Mohsin and Zuber Issa, who are working with the private equity firm TDR Capital, have pushed out a rival offer from the private equity firm Apollo Global Management with a bid that values the UK’s third largest grocery chain at £6.5bn.

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