Asda could be close to a takeover by TDR Capital as Zuber Issa reportedly closes in on selling his 22.5% stake in the supermarket.
Zuber's stake sale to the US private equity giant would leave it with a majority over the supermarket.
The deal could be announced in the coming weeks, according to Bloomberg-cited sources, with discussions currently ongoing.
This comes as Zuber looks to buy out his brother Moshin’s stake in the duo’s petrol station empire, EG Group.
Investors were told of the deal for the petrol station group’s UK assets last month, as Mohsin, who is still on the board, looks to leave to start a new phase in his personal life.