Qatari Royal Familie will get a grip on Sainsbury

By: trademagazin Date: 2007. 07. 19. 00:00

The British supermarket group J Sainsbury said it has received a takeover approach from a Qatari investment group.

"J Sainsbury plc confirms it has received a preliminary approach from
Delta Two Limited, which may or may not lead to an offer being made for
Sainsburys," said a statement to the London Stock Exchange. Delta Two
already owns 25 percent of J Sainsbury.
According to the Financial Times, Delta has offered 610 pence per share, or
about 12 billion pounds (17.8 billion euros, 24.6 billion dollars) for the
group.
Three months ago, J Sainsbury snubbed a consortium takeover bid, said to be
worth about 10.1 billion pounds, from private equity groups Blackstone, CVC and
Texas Pacific Group.
Sainsbury employs 155,000 staff and has 769 supermarket branches across
Britain, its real estate assets is GDP 7.5 million.
The supermarket chain is the third largest in the country after sector leader
Tesco and Asda, which is owned by US giant Wal-Mart.