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Discount buyout

4 February 2021 By Neil Unmack, Aimee Donnellan

The Issa brothers and TDR will put in only $1 bln to buy Asda. The deal makes canny use of generous debt and property markets. Borrowing, while high, looks manageable so long as the gas pump tycoons can manage the triple threat of discounters, Amazon and Brexit.

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