Alerts in the last 24 hours

No Personalised Alerts!

To see personalised alerts you need to be logged in.

Log In

Sainsbury (J) PLC Add to portfolio

LON100:SBRY, Apr 25, 02:36 UTC

Latest LON100:SBRY News

Filter your feed

Apply Filter

Yesterday


News

UK regulator to give final verdict on Sainsbury's-Asda deal

WMT SBRY

LONDON, April 25 (Reuters) - Britain's competition regulator will publish its final report on supermarket group Sainsbury's takeover of Walmart-owned rival Asda on Thursday, with most analysts and competition lawyers seeing little chance of the deal proceeding. Sainsbury's own share price - down 19 percent over the last three months - has also indicated an expectation that the Competition and Markets Authority (CMA) will either block the 7.3 billion pound ($9.5 billion) takeover outright or conditionally approve it subject to remedies that would be so severe as to make the deal unpalatable. Sainsbury's and Asda agreed last April to combine their businesses, aiming to overtake market leader Tesco. The implications of the deal failing are major. Some analysts believe Sainsbury's will have to undergo a major shake-up that could see new chairman Martin Scicluna part company with Chief Executive Mike Coupe, the architect of the deal and the group's boss since 2014. If one potential exit route from Britain for Walmart was blocked, the U.S. group might instead consider a stock market listing (IPO) of Asda or try to sell it to private equity.

Read Full Details

Topics:
  • Business
  • Financial
News

Sainsbury, Asda "very unlikely" to appeal UK regulator's verdict - FT

WMT SBRY

Sainsbury, Asda "very unlikely" to appeal UK regulator's verdict - FT. April 24 (Reuters) - Sainsbury's and Asda, the British arm of U.S. retailer Walmart, are "very unlikely" to appeal against the verdict of Britain's regulator on their proposed merger, the Financial Times reported on Wednesday. A person with knowledge of the situation told the FT: "An appeal is still an option, but I would regard it as very unlikely." Britain's competition regulator will publish its final report on Sainsbury's proposed 7.3 billion pound ($9.43 billion) takeover of rival Asda on Thursday, with analysts and competition lawyers seeing little chance of the deal proceeding. ($1 = 0.77 pounds) (Reporting by Mekhla Raina in Bengaluru; Editing by Angus MacSwan).

Read Full Details

Topics:
  • Business
  • Financial

Tuesday, April 23


News

UK regulator to publish final report on Sainsbury's-Asda on Thursday

SBRY

LONDON, April 23 (Reuters) - Britain's competition regulator said on Tuesday it expected to publish its final report on supermarket group Sainsbury's proposed 7.3 billion pound ($9.4 billion) takeover of Walmart-owned rival Asda on Thursday, April 25. The Competition and Markets Authority (CMA) had said in its provisional report in February that the deal, agreed last April, should either be blocked entirely or require the sale of a significant number of stores, or even one of the brands. The regulator identified 629 areas where there could be a substantial lessening of competition (SLC) in supermarkets, 290 areas where online competition could be reduced and 65 local overlaps in smaller convenience stores. Sainsbury's and Asda said last month the CMA's analysis was "fundamentally flawed" but said they were willing to sell 125-150 stores to get their deal past the regulator - a number well short of what the CMA had said it was looking for.

Read Full Details

Topics:
  • Business
  • Financial
News

British Land sells £429m of Sainsbury’s superstores

SBRY

British Land has sold £429m of J Sainsbury superstores as it shrinks its retail property portfolio amid turmoil in the sector. The company, one of the UK’s largest listed property groups, said on Tuesday it had sold the stores — which were part of a joint venture with Sainsbury’s — to Realty Income Corporation, a New York-listed group. Because British Land owned only a partial holding in the stores, its own share of the proceeds will amount to £193.5m, which it said was a “modest premium” to book value.

Read Full Details

Topics:
  • Business
  • Financial
News

British Land to sell 12 retail superstores from its joint venture with Sainsbury's for £429mln

SBRY

British Land PLC (LON:BLND) is expected to receive net proceeds of around £95mln after the sale of 12 superstores from its joint venture with J Sainsbury PLC (LON:SBRY) on which is has exchanged contracts for £429mln, as it continues to reduce its exposure to retail businesses. The FTSE 100-listed real estate group said its share of the proceeds of the planned disposal to Realty Income Corporation will be £193.5mln, representing a modest premium to September 2018 book value and a net initial yield of 5.0% from the joint venture.READ: British Land chairman to step down at July AGM. British Land said its long-term strategy is to build an increasingly mixed-use business focused on three core elements: campus focused London offices; a smaller, refocused Retail business and Residential, principally build to rent. As a result, it pointed out, it has exchanged or completed on nearly £1bn of retail assets sales - £646m being the group’s share - since April 2018 at an average yield of 5.7% on terms marginally ahead of book value. The group concluded: “We have a clear view of the value of our assets and despite the clear challenges currently in the retail market, we remain opportunistic and proactive.”.

Read Full Details

Topics:
  • Business
  • Financial
News

British Land, Sainsbury sell 12 Superstores properties for $557 million

SBRY BLND

British Land, Sainsbury sell 12 Superstores properties for $557 million. (Reuters) - British Land Company Plc said on Tuesday it and joint venture partner Sainsbury Plc sold 12 Superstores properties to U.S.-based Realty Income Corp for 429 million pound. British Land said its share of the proceeds from the disposal would be 193.5 million pounds and the portfolio represented a modest premium to the company's September 2018 book value. The deal, expected to be completed in May, will reduce British Land's Superstores exposure to 1.3 percent of its portfolio with six standalone stores remaining, it said.

Read Full Details

Topics:
  • Business
  • Financial

Monday, April 22


News

Shoppers 'secretly filmed' at Asda, Sainsbury's and Boots as research firm boasts of 'manipulating' customers

SBRY

Shoppers ‘secretly filmed’ at Asda, Sainsbury’s and Boots as research firm boasts of ‘manipulating’ customers. Updated: 23rd April 2019,11:54 am. SOME of Britain’s biggest high street stores have been secretly recording their customers to make them spend more cash, it was reported last night. Household names including Boots, Sainsbury’s and the Co-op have all reportedly commissioned behavioural experts from SBXL to record shoppers in their stores. The firm, which also counts L’Oreal, Coca-Cola, and Kellogg’s among its clients, said clear signs were in place and consent was sought from shoppers. However, the Mail reports the Information Commissioner’s Office is to examine its findings to check for breaches of data protection laws.

Read Full Details

Topics:
  • Business
  • Financial
  • Science
News

Realty Income Announces International Expansion: £429 Million Sale-Leaseback Transaction With Sainsbury's

SBRY O

SAN DIEGO, April 22, 2019 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced that the company has signed a definitive agreement to acquire, from a joint venture of affiliates of J Sainsbury PLC ("Sainsbury's") and British Land PLC, 12 properties located in the United Kingdom ("UK") for £429 million under long-term net lease agreements with Sainsbury's. "We believe that the size of the European net lease market and a need for a large-scale, well-capitalized institutional real estate partner creates a very propitious environment for us to increase our addressable market. Our company is ideally positioned to pursue these additional growth avenues in Europe given our position as the leader in the net lease industry, sector-leading cost of capital, and ability to complete large-scale sale-leaseback transactions without creating tenant or industry concentration issues." "As we continue to identify strong corporate sale-leaseback partners to further our company's growth, we remain cognizant of the values which have dictated our prior successes. The sale-leaseback transaction with Sainsbury's is executed at a 5.31% GBP initial cap rate, includes annual rent increases over the duration of the lease term, and carries a weighted average lease term of approximately 15 years. Realty Income defines FFO, a non-GAAP measure, consistent with the National Association of Real Estate Investment Trusts' (NAREIT's) definition, as net income available to common stockholders, plus depreciation and amortization of real estate assets, plus impairments of real estate assets, and reduced by gains on property sales.

Read Full Details

Topics:
  • Business
  • Financial
News

Easter Monday 2019 opening times for Tesco, Asda, Sainsbury's and more - Wales Online

WMT SBRY +1 more WMT SBRY TSCO

By clicking “Accept” below, you agree to us doing so. You can read more in our cookie notice. Or, if you do not agree, you can click Manage below to access other choices. If you choose not to, you will still see adverts on our site, because they help us to fund it, but those adverts will not be tailored to you. It's the last day of the four-day Easter weekend. But today is a bank holiday, and there can be some confusion over supermarket opening times. The smaller Tesco Metro and Express stores, as well as the smaller Sainsbury's shops, tend to operate their usual opening times (usually around 7am-11pm), even on bank holidays, so that's your best bet if you're stuck.

Read Full Details

Topics:
  • Business
  • Technology
  • Financial
  • Science
  • Health

Sunday, April 21


News

Easter Monday opening times for Tesco, Asda, Aldi, Lidl, Sainsbury's, Morrisons and Waitrose - Hull Live

WMT SBRY +1 more WMT SBRY TSCO

You can read more in our cookie notice. Or, if you do not agree, you can click Manage below to access other choices. If you choose not to, you will still see adverts on our site, because they help us to fund it, but those adverts will not be tailored to you. No matter how much you prepare, there is usually something of vital importance that you have forgotten, and you end up driving around to find a store that’s open. The smaller Tesco Metro and Express stores tend to operate their usual opening times (usually 7am-11pm), even on bank holidays, so that's your best bet if you're stuck. Then on Easter Monday, most Asda stores will open at the usual time but close earlier, at around 8pm.

Read Full Details

Topics:
  • Business
  • Financial
  • Science
  • Technology