18th Apr 2016 05:45
LONDON (Alliance News) - A consortium involving private equity group CVC Capital Partners and Qatar state-run investor Qatar Investment Authority is understood to have abandoned "secret" plans to acquire grocer J Sainsbury PLC, Sky News reported.
Sky said CVC, the QIA and Canadian property group Brookfield drew up detailed plans to acquire the group earlier this year and the plans were sufficiently advanced for the group to have been given formal approval to act as joint offeror for Sainsbury's, according to an insider.
The consortium is thought to have abandoned the plan shortly after Sainsbury's struck a deal to acquire Home Retail Group PLC, the Argos owner, Sky said.
http://news.sky.com/story/1679845/cvc-and-qatar-abandon-6bn-sainsbury-s-bid
By Sam Unsted; [email protected]; @SamUAtAlliance
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