Zuber Issa, one of the billionaire Issa brothers, is reportedly seeking to offload his 22.5% stake in the supermarket Asda as he looks to shift focus back to their original business of running

petrol stations and takeaways. Zuber, 51, acquired the stake in Asda three years ago in a £6.8 billion deal with his older brother Mohsin and private equity firm TDR Capital. The move is seen as an attempt by Zuber to concentrate efforts on EG Group, the brothers' stronghold in Blackburn, which owns thousands of petrol stations globally.

Zuber has approached buyout specialists and retailers to explore the sale, with a preference for an investor to join TDR and Mohsin for Asda's next phase, potentially including a bid for Boots. However, so-called lock-in agreements with Mohsin and TDR complicate the sale, as approval from both is required. Zuber might consider selling his stake to a private equity firm, but a lower price from TDR is expected in such a scenario.

A successful exit by Zuber could signal a partial parting of ways for the Issa brothers, leading to speculation about using the proceeds to buy Mohsin out of EG Group. The potential changes come amid upheavals at Asda, where Mohsin serves as CEO, facing challenges such as debt pressures and falling market share. Concerns over Asda's finances have led to calls for Mohsin to appear before MPs for questioning, with speculations that TDR might seek a new CEO with more grocery experience to replace him.

The brothers, known for their complex corporate structure and intertwined directorships, have built a vast network of companies. The sale discussions and potential shifts in focus represent a notable development in the ongoing evolution of the Issa brothers' business empire.

Asda and TDR declined to comment on the matter. Photo by Eirian Evans, Wikimedia commons.