It was confirmed on Friday that Zuber Issa would be stepping away from Asda and selling his 22.5% stake to co-owner TDR Capital. The move comes after months of speculation and tawdry tales of a personal rift between the brothers.
The announcement leaves TDR Capital as the retailer’s majority stakeholder, with 67.5% of the business.
Mohsin Issa will remain as co-owner of the business, retaining his 22.5% stake, while former majority owner Walmart retains a 10% stake.