Asta UK could return to ownership for the first time in 20 years after a group comprising billionaire Isa Brothers and DTR Capital took the lead in buying the supermarket.
It is understood that the Blackburn-based brothers and the private equity firm have been named as preferred bidders.
Asta has been owned by Walmart since 1999.
Walmart sells majority stake in Asta after merging with Sainsbury’s
A deal with the federation could cost Asta $ 5.5.5 billion According to Sky News, it first announced the story, Although this has not been finalized.
Apollo Global Management, an American private equity firm, is also in the race.
Asta already has a relationship with Mohsin and Juber Isa through their petrol forecasting business through the EG Group.
The supermarket recently announced its expansion into convenience stores, initially testing “Asta on the Move” in Easy Group’s three gas station forecasts in Ashby, Lemore and Primley in the Midlands.
Originally known as Euro Garages, the Isa Brothers founded EG in 2001, expanding from a base in Greater Manchester to owning nearly 6,000 sites in 10 countries.
In 2019, the business recorded revenues in excess of b 20bn (£ 17.9bn). DTR Capital now owns half of the group, with Juber Isa holding 25% and Mohsin Isa 25%.
Walmart, which continues to hold a minority stake in Asta after any deal, declined to comment on the sale process.
DTR and Apollo Global Management declined to comment, while EG could not be reached for comment.