Asda’s private equity owner has claimed the value of its investment in the supermarket chain has soared by nearly 20 times as it gears up for a potential bid for the pharmacy chain Boots.
The London-based TDR Capital said its stake as co-owner of the grocer was now worth €1.7bn (£1.4bn) on paper, or 19.8 times its original investment, indicating that the finance group put in just over £70m of fresh cash to back the deal, according to documents seen by the Financial Times.
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