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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Qatari Investment Authority weighs up Sainsbury swoop seven years after walking away from GBP10.6bn bid

Posted on 25 July 2014

It’s almost seven years since the Qatari Investment Authority walked away from its £10.6bn or £6 a share indicative bid for J Sainsbury, blaming its retreat on credit markets which made raising funding more expensive. It retained a 26 per cent stake and has remained a loyal shareholder. Until now.
Rumours suggest the Qataris were underwhelmed with Mike Coupe’s appointment as chief executive to succeed Justin King, who was credited with turning the group around during an impressive 10-year tenure. But with the shares still languishing just above £3 a pop and the grocer continuing to suffer increasing pressure from foreign discounters Aldi and Lidl, the Qataris are believed to be ready to go on the offensive again………………………………………..Full Article: Source


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