CVC Capital Partners [CVC.UL], Qatar’s QIA and Canada’s Brookfield Asset Management have abandoned a secret plan to bid for British supermarket group J.Sainsbury plc (SBRY.L), Sky News reported on Saturday.
The report could not immediately be verified.
Sky said the trio had dropped a planned takeover, hatched in the autumn, after Sainsbury’s made a 1.4 billion pound (US$2 billion) bid for Home Retail Group (HOME.L), the owner of Argos.
QIA has an around 25 percent stake in Sainsbury’s.
(Reporting by Elisabeth O’Leary; Editing by Alexander Smith)
(This story has been edited by Kirk Falconer, editor of PE Hub Canada)
Photo courtesy of Reuters/Neil Hall