ASDA is in talks of an agreement of 400 million pounds sterling to unload some of its real estate assets from supermarket to a giant investment house while it seeks to dive more funding in its recovery plans.
Sky News learned that Blue Owl Capital, the active ingredient management group listed in New York, has become the favorite to buy around 20 ASDA stores and rent them to the retailer based in Leeds.
An agreement could be officially agreed in a few weeks, according to people close to the situation.
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Last year, TDR acquired the participation of Zuber Issa in the chain and now has 67.5% of its shares.
Allan Leighton’s plans include more aggressive competition with traditional competitors and reduced to the price, improving availability and rationalization of costs more effectively.
The company has undertaken sales and rental agreements on previous occasions, especially in 2023 when it concluded an agreement of 650 million pounds sterling with US Realty Inc.
A spokesperson for ASDA refused to comment on talks with Blue Owl Capital, but said: “Sales and lease (transactions) have been a characteristic of the retail industry for many years.
“Although the maintenance of a solid base in full ownership remains at the heart of the ASDA real estate strategy, we will consider the appropriate opportunities to unlock the value of our real estate portfolio as part of our material investment program in the company.”
Eastdil, the real estate investment bank which was appointed to manage the process several months ago, and Blue Owl was contacted for comments.