2nd Feb 2007 13:31
Sainsbury(J) PLC02 February 2007 2 February 2007 Response to Statement from CVC Capital Partners (CVC), Kohlberg Kravis Roberts & Co. Limited (KKR) and The Blackstone Group International Limited (Blackstone) J Sainsbury plc (Sainsbury's) has noted the statement issued this morning byCVC, KKR and Blackstone. No proposal has been received. AccordinglySainsbury's has no further comment to make. Enquiries: Investor Relations MediaLynda Ashton / Elliot Jordan Pip Wood+44 (0) 20 7695 7162 / 4931 +44 (0) 20 7695 6127 Notes (1) The following is an extract of the text of the announcement made thismorning by CVC, KKR and Blackstone. CVC CAPITAL PARTNERS ('CVC'), KOHLBERG KRAVIS ROBERTS & CO. LIMITED ('KKR') ANDTHE BLACKSTONE GROUP INTERNATIONAL LIMITED ('BLACKSTONE') STATEMENT REGARDING JSAINSBURY PLC ('SAINSBURY') Further to recent speculation, CVC, KKR and Blackstone confirm that they are atthe preliminary stages of assessing Sainsbury. No decision has been maderegarding the relative merits of an offer and as a consequence there can be noassurance that any offer for Sainsbury will be forthcoming. A furtherannouncement may be made, if and when appropriate. (2) Dealing Disclosure Requirements Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if anyperson is, or becomes, 'interested' (directly or indirectly) in 1 per cent ormore of any class of 'relevant securities' of Sainsbury's, all 'dealings' in any'relevant securities' of that company (including by means of an option inrespect of, or a derivative referenced to, any such 'relevant securities') mustbe publicly disclosed by no later than 3.30 pm (London time) on the Londonbusiness day following the date of the relevant transaction. This requirementwill continue until the date on which the offer becomes, or is declared,unconditional as to acceptances, lapses or is otherwise withdrawn or on whichthe 'offer period' otherwise ends. If two or more persons act together pursuantto an agreement or understanding, whether formal or informal, to acquire an'interest' in 'relevant securities' of Sainsbury's, they will be deemed to be asingle person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevantsecurities' of Sainsbury's by CVC, KKR, Blackstone or Sainsbury's, or by any oftheir respective 'associates', must be disclosed by no later than 12.00 noon(London time) on the London business day following the date of the relevanttransaction. A disclosure table, giving details of the companies in whose 'relevantsecurities' 'dealings' should be disclosed, and the number of such securities inissue, can be found on the Takeover Panel's website atwww.thetakeoverpanel.org.uk. 'Interests in securities' arise, in summary, when a person has long economicexposure, whether conditional or absolute, to changes in the price ofsecurities. In particular, a person will be treated as having an 'interest' byvirtue of the ownership or control of securities, or by virtue of any option inrespect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on thePanel's website. If you are in any doubt as to whether or not you are requiredto disclose a 'dealing' under Rule 8, you should consult the Panel. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Sainsbury's