Skip to content
Search

Latest Stories

TDR Capital nears acquisition of Zuber Issa’s Asda stake

Zuber Issa has been instrumental in steering the course of Asda alongside his brother Mohsin

TDR Capital nears acquisition of Zuber Issa’s Asda stake

PRIVATE equity firm, TDR Capital, is on the cusp of clinching a deal to acquire Zuber Issa’s substantial 22.5 per cent stake in Asda, one of the country’s major supermarket chains, it was reported this week.

Sources familiar with the discussions revealed that an agreement is imminent, with an announcement anticipated in the coming weeks.


Should the deal materialise, TDR would substantially bolster its control over Asda, potentially gaining a controlling interest in the retail giant.

Zuber Issa, who has been instrumental in steering the course of Asda alongside his brother Mohsin, is now poised to sever ties with the supermarket chain, paving the way for a significant shift in ownership dynamics.

The Issa brothers, in partnership with TDR Capital, orchestrated the acquisition of Asda from the US retail behemoth Walmart just three years ago, in a landmark deal valued at £6.8 billion.

However, their stewardship of the supermarket chain has been marred by challenges, including mounting debt pressures and fierce competition within the industry.

Asda’s financial woes have drawn scrutiny from lawmakers, with Mohsin having been summoned for questioning twice in the past year over concerns about the company’s financial practices and their impact on consumer prices.

Zuber is reportedly engaged in negotiations to offload portions of the EG Group, the petrol station empire he co-founded with Mohsin. This move underscores the broader realignment of the Issa brothers’ business portfolios as they chart distinct paths forward.

Born in Blackburn, Issa brothers ascended from humble beginnings to forge a global empire comprising thousands of petrol stations and convenience stores across Europe, the US, and Australia.

With a track record of backing the Issa brothers’ ambitious ventures since 2015, TDR Capital continues to assert its influence in shaping the trajectory of the retail sector, leveraging its financial prowess to capitalise on emerging opportunities, reports said.

TDR also owns stakes in Stonegate Pub Company, Pizza Express and David Lloyd Leisure.

According to reports, Mohsin also plans to step back from overseeing the daily operations of Asda in order to concentrate on managing EG Group. The process of seeking a new CEO for Asda has already started.

More For You

Indian entrepreneurs lead America's billion-dollar start-up boom

Jyoti Bansal (Photo: X)

Indian entrepreneurs lead America's billion-dollar start-up boom

A NEW study revealed that India has become the top source of foreign-born founders behind America’s most valuable start-ups, highlighting the country's growing influence in the global technology sector.

Research by Stanford University’s Venture Capital Initiative showed that Indian entrepreneurs have founded 90 "unicorn" companies - start-ups valued at over $1 billion - in the US.

Keep ReadingShow less
Arun Srinivas

Meta considers India a key growth market

Meta

Arun Srinivas steps up as Meta’s Managing Director for India

Meta has announced the appointment of Arun Srinivas as the new Managing Director and Head of its India operations. He will assume the role from 1 July 2025, reporting to Sandhya Devanathan, who was recently promoted to oversee Meta's operations in both India and South East Asia.

Expanded role for Srinivas

In his new position, Srinivas will be responsible for aligning Meta’s business, innovation, and revenue priorities to better serve partners and clients across India. His focus will include strengthening strategic relationships with advertisers, developers, and brands, as well as continuing to support Meta’s long-term growth in the region.

Keep ReadingShow less
Trump Mobile

President Trump reported earning over $8 million in 2024 from various licensing agreements

Getty Images

Trump Mobile introduces $499 device bundled with $47 unlimited talk, text and data plan

The Trump Organization has announced the launch of Trump Mobile, a branded mobile phone service and a $499 smartphone, both expected to debut in September 2025. This marks the latest in a growing list of commercial ventures associated with President Donald Trump.

The 47 Plan: patriotic branding and telecoms offering

Trump Mobile’s service package, dubbed The 47 Plan, will cost $47.45 per month and include unlimited calls, texts, and data. Customers will also receive roadside assistance and access to a “Telehealth and Pharmacy Benefit”. Both the name and pricing of the plan are symbolic, referencing Trump’s political position as the 47th president of the United States.

Keep ReadingShow less
Madhvani group executives meet Modi to discuss investments in India

Madhvani Group executives with Narendra Modi

Madhvani group executives meet Modi to discuss investments in India

Executives from the Madhvani Group, including Shrai Madhvani, his wife Aparna Madhvani, and director Nitin Gadhia, met Indian Prime Minister Narendra Modi at his official residence in New Delhi on Saturday to discuss the group’s proposed investments in India, including the acquisition of Hindustan National Glass Ltd (HNGIL).

The meeting focused on the group's plans to invest in India through INSCO, which is seeking to acquire HNGIL, the country’s largest container glass manufacturer. The acquisition is currently awaiting approval from the National Company Law Tribunal (NCLT), following key rulings by the Supreme Court of India on January 29 and May 16, 2025.

Keep ReadingShow less
Apple India Reroutes 97% of iPhones to US Amid Tariff Push

Apple iPhones are seen inside India's first Apple retail store in Mumbai, India, April 17, 2023.

REUTERS

Foxconn sends 97 per cent of India iPhone exports to US amid tariff push

NEARLY all iPhones exported by Foxconn from India between March and May were shipped to the United States, according to customs data reviewed by Reuters.

The data showed that 97 per cent of Foxconn’s iPhone exports during this period went to the US, significantly higher than the 2024 average of 50.3 per cent.

Keep ReadingShow less