Private equity group Apollo leads £6.5bn race to buy Asda

Two bidders in running to snap up Walmart-owned chain as Lone Star drops out

Private equity firm Apollo Global Management is thought to have edged into the lead in the £6.5bn bidding war for Asda after rival Lone Star Funds dropped out.

It is thought a third bid from private equity firm TDR Capital remains in the running – the group is understood to have been working on a deal with the billionaire Issa brothers, who are behind the British forecourts operator EG Group.

Continue reading...

from Mergers and acquisitions | The Guardian https://ift.tt/3hUsmri