Walmart to Sell British Unit Asda to U.K. Rival Sainsbury

Walmart to Sell British Unit Asda to U.K. Rival Sainsbury

LONDON—Walmart Inc. on Monday mentioned it will promote its British arm Asda Group Ltd. to rival J Sainsbury PLC, a deal that values the chain at about £7.three billion ($10.1 billion) and, if profitable, would create the U.Ok.’s largest grocer.

Walmart will maintain a 42% stake within the mixed firm and get virtually £three billion in money. The Bentonville, Ark. firm can have voting rights up to 29.9%.

If…

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