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Billionaire petrol station tycoons the Issa brothers and their private equity backers have today completed their £6.8billion acquisition of Asda, returning the supermarket giant to British ownership after more than 20 years.
The EG Group, owned by Mohsin and Zuber Issa, previously reached an agreement to acquire the chain from Walmart.
The deal, which is being backed by investment funds managed by TDR Capital, will also include its chain of petrol forecourts.
The brothers secured FCA approval for the takeover last week. However, the deal still needs to secure approval by UK competition regulators.
The brothers, who are worth an estimated £3.56bn, sent ripples through the City when they were named as the frontrunners for the takeover last year.