Zuber owned 22.5% of the Leedsbased grocery chain after a £6.8bn takeover with his older brother, Mohsin, and TDR three years ago. The sale of his stake had been expected for months, but was thought to have been complicated by lock-in agreements.
The transaction will complete between July and September, after which TDR will increase its stake from 45% to 67.5%, while Mohsin keeps 22.5%. Asda's former owner, the US retailer Walmart, retains its 10% stake.
The brothers, who share a £5bn fortune according to the Sunday Times rich list, grew up in a terrace house in Blackburn, Lancashire.
The pair, who are in their 50s, made their fortune from petrol forecourts, starting their empire with one in Bury, Greater Manchester, after working in their father's garage. After acquiring Asda in June 2021 with TDR, they folded part of their forecourts business, EG Group, into the supermarket chain last year.
هذه القصة مأخوذة من طبعة June 08, 2024 من The Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة June 08, 2024 من The Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
All Change Bellingham Running Into Poor Form Gives Southgate A Big Decision To Make
Your best players are still your best players. Your best team is not necessarily the one with all the best players on the pitch. Unfortunately England are in that place again.
Junk Foods Need Health Warnings, Says Expert
Ultra-processed foods (UPF) are displacing healthy diets all over the world despite growing evidence of the risks they pose and should be sold with tobacco-style warnings, according to the nutritional scientist who coined the term.
England Prepare For India's Storming Side In Battle For The Ages
This last-four encounter could be Guyana’s rumble next tothejungle-iftherain plays nice and stays away
PM And Starmer Clash Over Betting Scandal In Tetchy Final TV Debate
Labour leader hits out at Sunak over Tory culture and telling lies on tax’
Russian Trial Of US Journalist On 'Bogus' Spying Charge Starts Behind Closed Doors
A Russian court has begun a closeddoors trial of the Wall Street Journal reporter Evan Gershkovich on spying charges that he, his employer and the US government have all described as politically motivated.
Two Stuck On ISS As Boeing Spacecraft Hits Trouble
Boeing's public relations crisis is now out of this world: the company's Starliner spacecraft and the two astronauts who arrived on it - are stuck in space.
Up For The Cup Call For Restraint As Plastic And Beer Sent Flying By Fans At Euro 2024
International tournaments are often described as "festivals of football", but Euro 2024 has come to resemble something more like a rock festival as fans have taken to throwing beer and plastic pint glasses from the stands on to the field.
Belgium booed despite progress as Ukraine get heroes' farewell
At one end of the ground, one team stood, exhausted, in the penalty area in front of their fans and were warmly applauded.
Turkey take second after Barak red hurts Czechs
Turkey scraped through to face Austria in a quintessential battle of the dark horses but they will have to buck their ideas up when the knockouts arrive.
Rivian shares rise 33% after $5bn deal with Volkswagen
Shares in Rivian surged after Volkswagen agreed to invest up to $5bn (£4bn) in the Amazon-backed electric carmaker.