Walmart Revives Discussion of Potential Sale of Asda
UNITED STATES - Walmart is a retail tour de force; any time the buy-side tides flow in or out, you can bet that this giant is the moon controlling it. Most recently, Walmart revived a potential rumor that it may be putting retail chain Asda on the auction block.
This news, which came earlier in March of this year, posited that Asda could be sold for upwards of $8.6 billion. Asda itself has also become a valuable retail partner on its own, making strategic moves to amplify its fresh offerings through industry partners like Uber Eats.
According to a report from Bloomberg, the multibillion-dollar deal was put on hold due to COVID-19. The news source stated that renewed interest from potential buyers has cropped up, with several looking to gain a stake in Asda.
“We believe now is the right time to explore options for a third party to invest in our business to accelerate the long-term delivery of our strategy, both in stores and online,” Walmart and Asda remarked in an emailed statement to Bloomberg. The statement noted that discussions do not necessarily mean a transaction will occur.
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