Leading offshore law firm Appleby, alongside Skadden, Arps, Slate, Meagher & Flom LLP and Latham & Watkins LLP have acted as counsel to the Issa Brothers and TDR Capital on their successful bid to acquire the Asda Group from Walmart. The Asda Group was acquired by Walmart in 1999 and is one of the biggest supermarket groups in the UK. The acquisition values the Asda Group at approximately GBP6.8 billion.
Appleby’s Corporate and Banking teams advised on the Jersey law aspects of the successful bid, supported by colleagues in Appleby Global Services.
Appleby Partner Andrew Weaver commented:
“We were very pleased to have acted on this transaction, which demonstrates the strength and depth across our various teams plus our ability to assist clients in market leading, time sensitive transactions. The acquisition is testament to the entrepreneurship and ambition of the buying team and we look forward to assisting them as they take the next steps in this latest venture.”
Appleby’s Merger and Acquisitions (M&A) team is well-positioned to advise clients on a wide range of M&A activities. Its unique jurisdictional reach means that Appleby is able to advise clients on complex, cross-border transactions involving the offshore jurisdictions that are most often encountered. The team regularly work with FTSE 100 and Fortune 500 companies around the globe and those with financial interests in them, to help them deploy strategic growth and restructuring initiatives, whether involving single jurisdictions or complex multi-jurisdictional, multi-disciplinary transactions.