The billionaire Issa brothers are said to be on the verge of selling another chunk of Asda’s property empire to an Australian finance house in a deal estimated at about £500 million.
Mohsin and Zuber Issa, backed by TDR Capital, the private equity firm, bought the supermarket chain from Walmart, of the United States, in 2020 in a £6.8 billion debt-fuelled deal. They are targeting sale-and-leaseback transactions for the grocer’s estate to try to bring down its debts.
Macquarie Asset Management is close to buying ground rent leases linked with about 50 Asda stores in Britain, according to React News, an industry newsletter. The leases would last for 50 years, with a provision included to allow Asda to reassume ownership for a nominal amount at
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