Sainsbury’s Middle Eastern suitor has armed itself with a US$3 billion warchest, reports said yesterday (3 September).
The state-owned Qatar Investment Authority has raised the money through loans, according to Reuters. The nine-month loan can be extended for another six months.
“It’s a warchest … for undisclosed investments,” one of the bankers was quoted saying.
In June Qatar Investment Authority’s Delta Two acquired around $1.5 billion worth of Sainsbury stock. A month later it announced a $21.4 billion bid to buy the UK’s third largest supermarket operator.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData