18.04.2016 - Qatar and CVC drop £6bn Sainsbury takeover bid
The Qatar sovereign wealth fund and private equity group CVC have ended plans to launch a dramatic takeover approach for the UK supermarket group J Sainsbury. The Qatar Investment Authority (QIA) is understood to have joined forces with CVC Capital Partners and brought in Canadian property specialist Brookfield group earlier this year to launch a takeover bid for the grocer, according to Sky News Business. The plans received formal approval from the City’s Takeover Panel in a sign of how close the consortium got to going public with the offer. It is understood that city grandee Archie Norman, who is currently chairman of ITV and made his reputation as chairman of Asda, was identified as a potential chairman of Sainsbury’s...............................................Full Article: Source
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