A deal to buy a stake in the UK's Asda from a billionaire is close

Asda set to report a small pre-tax surplus after losing £74million in 2022. News comes as one of the Issa brothers is about to sell his stake to private equity group TDR Capital. Supermarket giant set to return to profit as Zuber Issa sells to TDR.

TDR Capital is closing in on a deal to buy gas-station billionaire Zuber Issa’s stake in Asda. Private-equity firm tightens its grip on one of Britain's biggest supermarket chains, according to people familiar with the discussions. TDR has been in talks with Issa for more than two years.