{"id":128997,"date":"2021-06-16T12:45:39","date_gmt":"2021-06-16T12:45:39","guid":{"rendered":"https:\/\/precoinnews.com\/?p=128997"},"modified":"2021-06-16T12:45:39","modified_gmt":"2021-06-16T12:45:39","slug":"uk-regulator-accepts-new-asda-owners-offer-to-sell-petrol-stations-for-deal-clearance","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/uk-regulator-accepts-new-asda-owners-offer-to-sell-petrol-stations-for-deal-clearance\/","title":{"rendered":"UK regulator accepts new Asda owners offer to sell petrol stations for deal clearance"},"content":{"rendered":"<figcaption>A company logo is pictured outside an ASDA supermarket near Manchester in Britain, April 7, 2016. REUTERS\/Phil Noble\/File Photo<\/figcaption><p>LONDON (Reuters) -Britain\u2019s competition regulator has accepted an offer from the new owners of the Asda supermarket chain to sell 27 petrol stations to satisfy concerns the takeover could lead to higher fuel prices and will not refer the deal for an in-depth probe.<\/p>\n<p>Zuber and Mohsin Issa and private equity group TDR Capital completed their purchase of a majority stake in Asda from United States giant Walmart in February in a deal valuing the chain at 6.8 billion pounds ($9.6 billion).<\/p>\n<p>In a separate deal in February, EG Group, which is also owned by the brothers and TDR, agreed to buy Asda\u2019s 323 petrol stations for 750 million pounds.<\/p>\n<p>EG Group operates about 400 petrol station sites in the UK.<\/p>\n<p>In April, the Competition and Markets Authority (CMA) raised concerns over petrol prices and called on Asda\u2019s buyers to address them to avoid the deal being referred for an in-depth investigation.<\/p>\n<p>Last month the CMA said it was likely to accept the buyers\u2019 disposal offer.<\/p>\n<p>The Issa bros\/TDR must now select a purchaser, or purchasers, for the petrol stations, which the CMA must approve for the deal to be finally cleared.<\/p>\n<p>Though the financial transaction completed in February the CMA has a \u201chold separate order\u201d on Asda, which means the new owners can\u2019t yet be involved in the running of the business.<\/p>\n<p>($1 = 0.7084 pounds)<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/asda-ma-issa-bros\/update-2-asda-owners-avoid-9-6-bln-deal-probe-with-petrol-station-sale-approval-idUSL5N2NY2M8\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A company logo is pictured outside an<\/p>\n","protected":false},"author":3,"featured_media":128996,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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