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Latham & Watkins Advises on ASDA’s £2.27 Billion Acquisition of EG Group

May 30, 2023
London finance team counsels on the transaction to create a leading privately-owned UK business.

Latham & Watkins has advised ASDA (Bellis Finco plc) on its agreed acquisition of EG Group’s UK&I operations, for an enterprise value of £2.27 billion. The acquired business generated an FY22 pro forma standalone EBITDA of approximately £195 million. This acquisition builds on the strategic partnership formed between ASDA and EG since 2021, representing a transformational step towards creating a diversified omni-channel retail champion in the UK&I.

Latham’s team was led by London high yield partner Francesco Lione and associate Lyndy Amato; advice on banking matters was provided by London partners Dominic Newcomb and Charles Armstrong, with associates Tian Sun, Hayden Teo, Jack Winfield, and Christina Nasioutzik; and on real estate matters by London partners Quentin Gwyer and Jeremy Trinder, with associates Angus Hortop and Costa Thrasyvoulou.