Yahoo Finance Walmart restarts talks on selling Asda
The US retail group Walmart has restarted talks on the sale of Asda 15 months after the collapse of a planned merger with Sainsbury’s.
Walmart said it was in conversation with “a small number of third-party investors” who were interested in acquiring a stake in Britain’s third-largest supermarkets chain.
The potential deal comes after a surge in sales for supermarkets as weeks of closures of restaurants and cafes, along with a shift to working from home, has increased demand for groceries from consumers.
Walmart said: “The pandemic has demonstrated Asda’s resilience and the key role we play in supporting different communities. We have a clear strategy and a long heritage in delivering value for customers and with this in mind, 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 value strategy, both in stores and online.”
However, Walmart added: “There is no certainty that a transaction will happen.”
