Euro Garages brothers consider bid for Asda

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BILLIONAIRE Blackburn brothers Mohsin and Zuber Issa are understood to be eyeing up a bid for Asda.

The Euro Garages founders are said to be among several potential bidders for the 71-year-old UK supermarket giant after US owner Walmart confirmed it was in talks to sell its stake last week.

Their interest has been widely reported in the financial and retail trade press.

Any bid would be made through their holding company, the EG Group.

The Blackburn-born brothers, among the richest families in the UK with an estimated worth in excess of £1bilion, have recently been diversifying their interests from their main business involving petrol stations and forecourt convenience stores across the world.

They face competition for Asda from US buy-out specialist Lone Star Funds and private equity firms including Apollo.

Bosses at Walmart are in early stage talks with prospective bidders after a merger deal with Sainsbury’s was blocked by competition regulators last year.

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