April 16, 2016 / 12:12 PM / 2 years ago

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 British supermarket group J.Sainsbury plc (SBRY.L), Sky News reported on Saturday.

A sign is displayed outside a Sainsbury's store in London, in this file photograph dated December 3, 2015. REUTERS/Neil Hall/files

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 HOME.L, the owner of Argos.

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

Reporting by Elisabeth O'Leary; Editing by Alexander Smith

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below