UK supermarket group J Sainsbury is reported to be close to negotiating a sale of its £180m property-development unit.

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The company is entering exclusive talks with a consortium led by property firm Catalyst, which is believed to have fought off rival bidders because it was prepared to keep hold of the Sainsbury development team, reported the Sunday Times.


Sainsbury put the business up for sale as part of a drive to sell off non-core businesses. Proceeds from the sale are to be reinvested in the retail business.

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