Two UK billionaire brothers – who made their money in petrol stations – have succeeded in buying UK supermarket giant Asda from US owners Walmart.
Zuber and Mohsin Issa, 48 and 49, started their business with a single petrol forecourt in Bury, Greater Manchester, in 2001.
Read the full article on the BBC website
NAM Implications:
- ‘a high-risk company with a lot of debt’
- UK, EG Group: 386 sites, second-biggest independent petrol retailer to Motor Fuels Group 900 sites…
- Ability to ‘localise’ Asda.
- ‘Family’.
- Access to Walmart’s buying power.
- Anyone in doubt that a new kid has arrived on the block?
