Walmart Agrees to Sell U.K. Asda Chain for $8.8 Billion, but Will Take $2.5 Billion Non-Cash Loss

Walmart (NYSE: WMT) has agreed to sell its U.K.-based Asda supermarket chain to billionaire investors Mohsin and Zuber Issa and investment management company TDR Capital.

However, the retailer will also record a $2.5 billion loss on the transaction, and its earnings will be diluted by $0.25 per share in the first full year following completion of the deal as a result.

Image source: Asda.

Continue reading

Source Fool.com