Skadden, Latham Steer as Walmart Exits U.K. Grocer Chain

Skadden Arps and Latham & Watkins advised TDR Capital and a pair of British billionaire entrepreneur brothers on a estimated $8.8 billion deal to buy U.K. supermarket chain Asda Group Limited from Walmart Inc.

Skadden said it advised funds managed by TDR Capital, a London-based private equity firm, as well as Mohsin and Zuber Issa—owners of convenience-store operator EG Group—on M&A aspects of the deal. Latham said it advised the buyers on the deal’s financing aspects.

U.K. firm Slaughter and May said it advised Walmart on the deal. The American retail giant bought Asda in 1999 and has been trying ...