Asda closes in on £400m property deal with investment giant Blue Owl
Sky News has learnt that Blue Owl Capital, the New York-listed asset management group, has emerged as the frontrunner to buy roughly 20 Asda stores and lease them back to the Leeds-based retailer.
A deal could be formally agreed within weeks, according to people close to the situation.
Money latest:
Last year, TDR acquired Zuber Issa's stake in the chain, and now owns 67.5% of its shares.
Allan Leighton's plans include competing more aggressively with mainstream and discount rivals on price, improving availability and streamlining costs more effectively.
The company has undertaken sale-and-leaseback deals on previous occasions, notably in 2023 when it struck a £650m deal with US-based Realty Inc.
An Asda spokesman declined to comment on the talks with Blue Owl Capital but said: "Sale-and-leaseback [transactions] have been a feature of the retail industry for many years.
"While maintaining a strong freehold base remains central to Asda's property strategy, we will consider suitable opportunities to unlock value from our property portfolio as part of our material programme of investment into the business."
Eastdil, the real estate investment bank which was appointed to run the process several months ago, and Blue Owl have been contacted for comment.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
28 minutes ago
- Yahoo
Syria signs $14 billion in investment deals, including $4 billion airport expansion
DAMASCUS, Syria (AP) — Syria signed agreements worth $14 billion with regional and international companies on Wednesday for 12 investment projects, including modernizing the international airport in Damascus and a new subway system, state media reported. The deals are the largest so far since foreign companies and countries started an investment push into the war-torn country after Western sanctions were eased following the fall of the 54-year rule of the Assad family. The head of Syria's Investment Authority, Talal al-Halili, was quoted by state-run news agency SANA as saying that the expansion of Damascus' International Airport will cost $4 billion and will be done by the Qatar-based UCC Holding. SANA said that the airport will be able to serve up to 31 million travelers a year, after the expansion. SANA added that the agreement for the new subway system in the capital is worth $2 billion, and the network is expected to be used by 750,000 people a day. The deal for the subway was signed by Syria's Transportation Ministry and the United Arab Emirates' National Investment Corporation, SANA said. Other projects include the $2 billion construction of 60 residential towers with 20,000 housing units outside of the capital. 'Syria is open for investments and determined to build a bright future,' al-Hilali said during the ceremony, which was attended by President Ahmad al-Sharaa. In late July, Syria and Saudi Arabia announced 47 investment agreements, valued at more than $6 billion to mark a significant step in rebuilding Syria's war-battered economy. In May, Syria signed an agreement with a consortium of Qatari, Turkish and U.S. companies for the development of a $7 billion 5,000-megawatt energy project to revitalize much of Syria's war-battered electricity grid. 'The future of a prosperous and peaceful Syria is in the hands of Syria and its regional partners,' said the U.S. special envoy to Syria, Tom Barrack, who attended Wednesday's signing in Damascus. The Associated Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28 minutes ago
- Yahoo
As No-Touch Laws Expand Nationwide - Scosche Industries Empowers Drivers with Safe & Hands‑Free Phone Mounting in 2025
OXNARD, Calif., Aug. 6, 2025 /PRNewswire/ -- With more than 30 states now enforcing strict No-Touch driving laws and several others poised to follow, Scosche® Industries is reminding drivers that safety starts with where you keep your phone. New laws passed in California, New York, Pennsylvania, Iowa, and Louisiana are reshaping what drivers can and cannot do behind the wheel when it comes to mobile devices. California, for example, prohibits drivers from physically holding a phone, even without actively using it. This law went into effect in June 2025 and expands on the existing hands-free law, making it illegal to simply hold a phone while driving. While details vary by state, the message is clear: phones must be mounted, and hands must stay on the wheel. "No-Touch doesn't just mean Bluetooth calls anymore," said Darryl Miya, Director of Marketing at Scosche Industries. "It means minimizing distractions altogether and that starts with a secure, visible phone mount that doesn't interfere with your focus on the road." As the #1 Mount Brand in the U.S.*Scosche Industries has been leading the charge in mobile mounting innovation for over a decade. Their MagicMount™ lineup, especially the newest MagicMount Charge Pro 25W series, is engineered for modern vehicles, fast wireless charging, and full legal compliance in today's no-touch driving world. The MagicMount Charge Pro 25W is Scosche's first line of Qi2.2-certified magnetic wireless charging mounts, delivering up to 25W of blazing-fast power while securely holding the phone in place. The series includes four versatile options tailored to different driving needs: Dash/Vent Mount – A compact, adjustable solution with peel-and-stick or vent-clip installation. (Available Now) 5-in-1 Mount – The most flexible model with a swing arm and multiple placement options, perfect for center-mounted screens. (Coming Soon) Window/Dash Mount – Uses Scosche's trusted StickGrip™ suction base for high placement and easy repositioning. (Coming Soon) Flip Arm Mount – With a 6-inch, 190-degree rotating arm ideal for deep dashboards or close-at-hand setups. (Coming Soon) All models feature secure MagSafe®-compatible magnetic locking, full Qi2.2 certification, and adjustable heads for effortless positioning, helping drivers comply with local hands-free laws without sacrificing accessibility or visibility. For non-charging setups, the MagicMount MS provides a sturdy, compact magnetic mount ideal for everyday commutes and shared vehicles and they're Popsocket compatible. The series, which is currently available in all mount options, includes: Flip Window/Dash Mount – Features a pivoting flip-arm and StickGrip™ suction base for deep dashboards or close-range phone positioning. Window / Dash Mount – Securely attaches to windshields or dashboards with a StickGrip™ suction cup for easy, visible mounting. Dash / Vent Mount – Offers flexible placement with either a vent clip or adhesive dash base for a clean, secure setup. 5-in-1 Mount - Combines five mounting options—including swing-arm, dash, vent, and display-back—for unmatched adjustability in any vehicle. CD Mount - Installs directly into your vehicle's CD slot for stable, central mounting without blocking air vents or controls. Recent legislation highlights the urgency of solutions like these. In June 2025, New York State made headlines by banning even light taps on a phone at red lights. Pennsylvania's "Paul Miller's Law" quickly followed, creating stricter enforcement across the state. Meanwhile, Iowa and Louisiana implemented new hands-free laws that carry escalating fines for touching your phone while driving, part of a broader trend backed by national safety campaigns like the NHTSA's "Put the Phone Away or Pay" initiative. In 2023 alone, distracted driving claimed more than 3,200 lives, according to the National Highway Traffic Safety Administration. With statistics like that, safe mounting is more than a convenience, it's a necessity. Scosche encourages drivers to check their individual state laws, as hands-free regulations vary by location. Whether it's a daily commute or a road trip across state lines, a reliable mount helps ensure you stay compliant, stay powered, and stay focused. For more information and to explore the full line of MagicMount solutions, visit About SCOSCHEFounded in 1980, SCOSCHE Industries is an award-winning innovator of consumer technology and car audio products – committed to delivering superior quality, performance, and customer service. With over 400 patents and trademarks, Scosche is trusted by drivers and tech lovers in over 50 countries. Visit to learn more. #1 Mount Brand*Source: Circana, /Retail Tracking Service, Mobile Holders/Stands, Excluding Mobile Holder Type: Mobile Grip/Stand, Unit Sales, Jan. 2021– May 2024 The Scosche MagicMount phone mount system was granted two design patents: D790,960 and D831, us on: Instagram (@scoscheinc) and @scosche on X, Facebook, Pinterest,YouTube, TikTok, and LinkedIn, for the latest news on all of the company's award-winning consumer tech and car audio products and accessories. And also visit our company Press Room on Media Contacts: Chris HerbertScosche PRScosche@ Darryl MiyaDirector of Marketing, Scosche Industriesdarrylm@ View original content to download multimedia: SOURCE Scosche Industries, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28 minutes ago
- Yahoo
Why 2025 might be a good year to buy a home after all
Redfin found that home prices fell in 14 of the 50 largest US metros during the final week of July. The price dips are a result of higher mortgage rates, which have cooled buyer demand. With fewer buyers, sellers are offering more perks to those still in the market for a home. It's been a tough market for homebuyers in recent years, but things are finally looking up. Shop Top Mortgage Rates A quicker path to financial freedom Personalized rates in minutes Your Path to Homeownership That's according to a report from Redfin, which found that in the last week of July, the median home-sale price declined in 14 of the 50 most populous US metros. Oakland, California, saw the largest year-over-year decline at 6.8%, followed by West Palm Beach, Jacksonville, Austin, and Houston at 4.9%, 3.1%, 2.9%, and 2.8%, respectively. Nationally, the median home price increased by 2% year-over-year in July — but it's still down from the 5% to 6% gains seen in late 2024 and early 2025. By year's end, Redfin economists expect a 1% annual decline in the national median price. "Home prices are starting to dip because high mortgage rates have pushed many buyers out of the market, weakening demand," Redfin chief economist Daryl Fairweather told Business Insider. After years of buyer demand outpacing housing supply, the dynamic has flipped in some cities. According to Redfin, many areas now have more homes for sale than buyers. As a result, properties are sitting on the market longer, and many sellers and homebuilders are finding it more difficult to close deals. Those who can still afford to buy are benefiting, as motivated sellers are cutting asking prices and, in many cases, offering incentives or concessions to help buyers reach the finish line. "With fewer buyers in the market, some sellers are more willing to negotiate on price and terms — but others are choosing to delist rather than sell for less. That dynamic is giving buyers a bit more leverage, but it's also keeping inventory tight," Fairweather said. An April report from Redfin shows that home sellers offered concessions in 44.4% of home sales in the first three months of 2025 — a near record high. Concessions can look like a home seller covering repair costs, helping a buyer with down payment or closing expenses, or giving them money to offset higher mortgage rates. Anna Lagos, a San Antonio real estate agent with Our Texas Real Estate, told Business Insider that buyers in her market definitely have more bargaining power. "It's become much harder for homeowners to sell their existing properties," Lagos said, adding that she's seen some sellers offer as much as $10,000 to buy down a buyer's mortgage rate. Lagos said that home builders are feeling the pressure, too. "I'm seeing a lot of price reductions," she said. "One of my clients needed to move right away. The homebuilder offered to start construction as soon as possible and cut the asking price by about $30,000 to $40,000." So if you're in the market for a new home, now might be the time to jump in — or at least see what you can negotiate. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
