Investment firm buys stake in UK’s third biggest supermarket chain.
Published On 26 Apr 200726 Apr 2007
The supermarket chain is the third largest in the country after Tesco and number two Asda, which is owned by the US giant, Wal-Mart.
J Sainsbury, meanwhile, is not Qatar’s only current major investment in Britain.
The Gulf state is said to be a key investor in an expensive property development in central London.
Qatar’s foreign minister is reported to have bought one of the apartment’s for 100 million pounds, making it the most expensive flat in London.
Tim Attenborough, a financial analyst at Exane BNP Paribas, said he believed the Qataris did not aim to launch a bid for J Sainsbury.
Attenborough said he expected the group to use their stake as a lever to force it to release value from the property it owns.
“This increases the likelihood…
