Saturday, 11 October 2008 |
updated 1 minute ago
13:36 UAE time

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Qatar ups Sainsbury stake

by This email address is being protected from spam bots, you need Javascript enabled to view it on Saturday, 05 July 2008

INCREASING STAKE: The QIA has raised its share in Sainsbury to 26 percent, from 25.3 percent. (Getty Images)

The Qatar Investment Authority (QIA) has raised its stake in J Sainsbury to 26 percent from 25.3 percent, the British supermarket group said on Friday.

In a regulatory filing, Sainsbury said 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 percent 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.

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Sainsbury shares were up 1.8 percent at 285 pence by 1103 GMT. (Reuters)

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