Asda acquisition clears final hurdle
The acquisition of Asda by the Blackburn-based Issa brothers can now go ahead after the Competition & Markets Authority granted its approval.
The brothers have partnered with TDR Capital to acquire the supermarket £6.8bn.
As the brothers also own the EG Group chain of forecourts, the CMA was seeking assurances that fuel prices will remain competitive in the 36 areas where the acquisition will weaken levels of competition.
A statement read: "The CMA considers that the undertakings given by the Issa Brothers and TDR are appropriate to remedy, mitigate or prevent the substantial lessening of competition, or any adverse effect which has or may have resulted from the transaction, or may be expected to result from it."
Asda's fuel forecourts will now be sold to the EG Group.
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