KKR plans to buy Asda after merger with Sainsbury – Sunday Times

EDINBURGH (Reuters) – US private equity giant KKR is preparing a takeover bid for Walmart's Asda in talks over its merger with British rival Sainsbury, prompting competition concerns, the Sunday Times reported. .

KKR is expected to work with former Asda executive Tony De Nunzio, now a senior advisor to the repurchase company, the report said.

The newspaper, which does not quote its sources, said that Asda would have a lower valuation than 7.3 billion pounds in the contract with Sainsbury, because it would not have the same savings of # 39; scale.

The report quotes a source close to Walmart who said he was not in a hurry to find a new buyer for Asda.

An Asda spokesperson could not be immediately contacted for comment.

The UK Competition and Markets Authority (CMA) on Wednesday released preliminary findings of its investigation of the deal, concluding that there could be a noticeable reduction in competition if it is not possible. agreement was reached.

(Report by Elisabeth O. Leary, edited by Daniel Wallis)