In a letter to Mohsin Issa, one of the billionaire brothers who bought Britain's third largest supermarket with their private equity partner TDR Capital in 2020, Darren Jones, the chair of parliament's business and trade select committee, has asked for details of Asda's corporate structure, capital investment and profit margins on petrol.
The letter seeks details on loans from the Issas' petrol forecourt operation, EG Group, which helped to fund the buyout of Asda and the purchase of two private jets for the brothers.
"The committee has concerns that the complex company structure within which Asda sits, and associated decisions on financing, may restrict your ability to help meet cost-of-living pressures on your customers," Jones writes in the letter on the committee's website.
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