Private equity firms circling Sainsbury’s with view to launch bids

© Reuters. FILE PHOTO: Signage for Sainsbury’s is seen at a department of the grocery store in London, Britain, January 8, 2020. REUTERS/Toby Melville/File Photograph

(Reuters) – Non-public fairness corporations are circling British grocery store group Sainsbury’s with a view to presumably launching bids of greater than 7 billion kilos ($9.53 billion), The Sunday Occasions reported.

American buyout big Apollo is alleged to be operating the rule over the grocery store group, the newspaper reported https://

It stays in talks to hitch the Fortress-led consortium bidding for Morrisons and any involvement in that deal might preclude a transfer for Sainsbury’s, the report mentioned, including Apollo’s curiosity in Sainsbury’s is exploratory.

British grocery store group Morrisons mentioned on Thursday its board would unanimously suggest U.S. non-public fairness group CD&R’s 285 pence a share provide value 7 billion kilos and drop its earlier suggestion for a 6.7 billion pound bid from a consortium led by SoftBank owned Fortress.

($1 = 0.7342 kilos)

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