CVC, QIA and Brookfield drop secret bid plan for Sainsbury -report

Sat Apr 16, 2016 8:03am EDT
 
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EDINBURGH, April 16 (Reuters) - CVC Capital Partners , Qatar's QIA and Canada's Brookfield have abandoned a secret plan to bid for British supermarket group J.Sainsbury plc , 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 ($2 billion) bid for Home Retail Group, the owner of Argos.

QIA has an around 25 percent stake in Sainsbury's.

($1 = 0.7040 pounds) (Reporting by Elisabeth O'Leary; Editing by Alexander Smith)