CVC, QIA and Brookfield drop secret bid plan for Sainsbury - report
Reuters
Published Apr 16, 2016 13:07
CVC, QIA and Brookfield drop secret bid plan for Sainsbury - report
EDINBURGH (Reuters) - CVC Capital Partners (CVC.UL), Qatar's QIA and Canada's Brookfield have abandoned a secret plan to bid for supermarket group J. Sainsbury plc (L:SBRY), Sky News reported on Saturday.
The report could not immediately be verified.
Sky said the trio had dropped a planned takeover, hatched in the autumn, after Sainsbury's made a 1.4 billion pound bid for Home Retail Group (L:HOME), the owner of Argos.
QIA has an around 25 percent stake in Sainsbury's.
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Written By: Reuters
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