In what year did Walmart sell Asda?

Walmart sold its majority ownership of Asda in 2021.

The transaction was completed on February 16, 2021, when the Issa brothers and private-equity firm TDR Capital acquired a majority stake in Asda, Walmart’s wholly owned British business. The deal valued Asda at an enterprise value of £6.8 billion on a debt-free, cash-free basis.

The year 2020 can cause confusion because Walmart announced the proposed sale in October of that year. Announcement and completion are different stages of a transaction: the agreement was made public in 2020, while the ownership change legally closed in 2021.

Walmart did not completely disappear from the relationship at closing. It retained an equity investment, a seat on Asda’s board and an ongoing commercial relationship. Thus, “sold Asda” is commonly used for the 2021 completed sale, even though Walmart continued to hold a minority interest afterward.