EG Group owners in pole position to buy Asda

Brothers Mohsin and Zuber Issa, who are working with the private equity firm TDR Capital, have made a bid that values the UK’s third-largest grocery chain at £6.5bn.

A deal has yet to be formally struck, but sources confirmed yesterday (28 September) that the brothers’ offer was now the leading contender because of the potential to work together on expanding the supermarket into petrol forecourts.

A deal is expected to be announced as early as this week.