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Qatar ups Sainsbury stake to 26pc

London, July 5, 2008

The Qatari Investment Authority (QIA) has raised its stake in J Sainsbury to 26 per cent from 25.3pc, the British supermarket group said.

In a regulatory filing, Sainsbury said on Friday the QIA bought a further 12.36 million shares between June 25 and July 2, taking its total holding to 454.52 million shares, or 26 per cent of the company's share capital.

The QIA, Qatar's state investment fund, built up the bulk of its Sainsbury stake last year through its Delta Two fund, the vehicle it used to launch an unsuccessful bid approach for the UK's third-biggest supermarket group.

Sainsbury shares rose after the announcement.
 




Tags: Sainsbury | Stake | boost | Qatari Investment Authority |

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