Wal-Mart Restructures Asda Ownership

Wal-Mart has shifted the ownership of its Asda division here to be under the purview of a different subsidiary, according to reports yesterday.

LONDON — Wal-Mart has shifted the ownership of its Asda division here to be under the purview of a different subsidiary, according to reports yesterday.

The reports said Wal-Mart sold Asda to Corinth, a holding company that previously had been a subsidiary of Asda, for about $9.6 billion. Wal-Mart did not explain why it executed the change in ownership structure took.

"Corinth is the new parent company of Asda Group, having previously been a subsidiary," The Telegrap

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