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Qatar raises Sainsbury stake
- Qatar: Saturday, June 16 - 2007 at 10:25
Delta Two, an investment fund backed by the Qatar Investment Authority, has increased its stake in J Sainsbury, the UK supermarket chain, to 25%, reported the AFP. The investment fund paid $1.4bn for 123m shares and the acquisition follows a deal back in April when Delta Two bought an initial 17.4% stake. The investment sent Sainsbury's shares soaring and the group had a market capitalisation of $20.5bn late on Friday.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, June 16 - 2007 at 10:25 UAE local time (GMT+4)
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