Oct 2 (Reuters) - Walmart Inc expects to record a non-cash loss of about $2.5 billion this fiscal year due to the sale of its British supermarket chain Asda, the retailer said on Friday.
Mohsin and Zuber Issa, the billionaire brothers who founded petrol station operator EG Group, and private equity firm TDR Capital said earlier in the day that they would buy Asda from Walmart for $8.8 billion.
Walmart earnings are expected to be diluted by about 25 cents per share in the first full year following the completion of the transaction - expected in the first half of fiscal 2022, the company said in a regulatory filing. (bit.ly/36tWsjo) (Reporting by Uday Sampath in Bengaluru; Editing by Anil D'Silva)
Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.
Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.