Talks between Qatari investment group Delta Two and the pension trustees of Sainsbury’s, aimed at clearing the way for Delta Two’s GBP10.6bn (US$21.66bn) acquisition of the supermarket chain, are still continuing, but no agreement has yet been reached, according to a report on Dow Jones Newswires.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Dow Jones report quoted a source familiar with the negotiations.
The UK newspaper The Sunday Express reported on Sunday (14 Oct) that Delta Two had agreed a GBP1.5bn security package for the company’s pension scheme with the trustees, with GBP600m being paid up front in cash.
Observers believe that an agreement with the pension trustees is the last hurdle Delta Two will have to tackle to seal its takeover of the UK’s third largest food retailer.
