The billionaire brothers of Gujarati origin bought the British supermarket company Asda

(PTI) London, Ta. Friday, October 2, 2020

Gujarati-born billionaire brothers Mohsin and Zubair Isa will buy Britain's leading supermarket chain Asda. The two brothers will buy the company from Walmart. The two brothers have signed a 8.8 billion deal with Walmart.

The two brothers have entered into an agreement with Walmart in partnership with private equity firm TDR Capital. It may be mentioned that the parents of the Isa brothers migrated to Britain from Gujarat in the 1970s. The two brothers started a petrol station chain Euro Garage under Easy Group Businesses.

Meanwhile, British Chancellor Rishi Sunak expressed happiness over the agreement, saying that for the first time in two decades, Assad's ownership has been acquired by a British company. He added that the new ownership is committed to investing અ 1 billion over the next three years. I wish them all the best for the future.

Announcing the deal, Walmart said Assad's headquarters would be in Leeds, north of England, and that Roger Burnley would continue as its chief executive. "We are proud to invest in Assad," Mohsin and Zubair Isa said in a statement.