Wal-Mart offloads Asda...I hope it doesn't affect the cheap prices! - HotUKDeals
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Wal-Mart offloads Asda...I hope it doesn't affect the cheap prices!

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Wal-Mart/Asda Wal-Mart offloads Asda for £6.9bn in group restructuring 09 Nov 2009 A Leeds-based investment vehicle named Corinth Services Limited has acquired Asda from Wal-Mart for £6.9bn (7.7… Read More
Turbonerd Avatar
7y, 5m agoPosted 7 years, 5 months ago
Wal-Mart/Asda
Wal-Mart offloads Asda for £6.9bn in group restructuring 09 Nov 2009

A Leeds-based investment vehicle named Corinth Services Limited has acquired Asda from Wal-Mart for £6.9bn (7.7bn), representing a gain of merely £200m for the US retail giant on its investment in 1999.
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Turbonerd Avatar
7y, 5m agoPosted 7 years, 5 months ago
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#1
wow, really?

yep, will undoubtedly have an effect on prices and for staff etc.
#2
ClarityofMind
wow, really?

yep, will undoubtedly have an effect on prices and for staff etc.


Im not sure if it will, they wouldn't wanna lose the lowest priced supermarket award.
#3
Asda won't have as much muscle with suppliers

Tesco execs will be licking their lips with delight :lol:
#4
Dellboy182
Im not sure if it will, they wouldn't wanna lose the lowest priced supermarket award.


Hope not!

Just have to wait and see I guess.

Walmart didn't even own them all that long, really.
#5
walmart were a disaster for the staff-dunno anything about these people tho.
#6
just read on telegraph site, this isn't how it seems :o Walmart still own asda, but have sold their "stake"

In the previously undisclosed group restructuring that took place in August, the world's largest retailer let its subsidiary Wal-Mart Stores (UK) sell 3.1bn ordinary shares in Asda in return for a £5.7bn cash payment from Corinth, a fellow Wal-Mart group company, and £1.24bn in shares.

At the same time five Asda directors, including marketing guru Rick Bendel and retail director Andy Clarke, were appointed to Corinth's board, joining existing directors Andy Bond, Asda's chief executive, and Judith McKenna, Asda's finance director.

Asda described the deal as a "group reconstruction", which valued the company at "historic book value" rather than the result of an independent revaluation. A spokesman said that it had been done "for good financial management" reasons. He declined to comment on whether the move was tax driven, but said that all the companies were registered in the UK.

He said: "From 2009 Corinth is the new parent company of Asda Group, having previously been a subsidiary. As part of good financial management of our business we will, from time to time, alter that structure as appropriate. Such alterations depend on the a variety of factors, including the cash, debt and interest positions in the various group companies." The spokesman added that Asda's ownership had never changed hands before under Wal-Mart.

The deal means that Corinth, which does not employ any staff other than the seven directors, will receive Asda's dividend payments, which last year stood at £160m.


Walmart still owns asda but it's registered through another walmart company
#7
its gone back home - good.
#8
So Wal-Mart USA don't own it all anymore, but Wal-Mart UK do now.
I doubt we'll see much difference. Maybe fuller shelves, and more choice other than Smart Price only as an alternative.

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