Asda has struggled with debt since its 2021 leveraged buyout

Asda has raised close to £600m from two deals for its supermarkets ahead of a looming debt repayment to previous owner Walmart.

The grocery giant struck two sale-and-leaseback deals for its supermarkets totalling £568m, according to the FT.

It raised £467m in a deal with New York-based asset manager Blue Owl and London-listed Supermarket Income REIT to sell and lease back 20 stores and a depot in Lutterworth, Leicestershire.

A separate deal to offload four supermarkets in Birmingham, Greater London, Coventry and Leeds to investment managers DTZ raised £101m, sources told the FT.

Asda intends to use the proceeds of the two deals to repay a debt to Walmart, which retained a 10 per cent stake in the company following the £6.8bn

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